Thursday, December 31, 2009

Estate Tax Update

Congress is apparently not going to fix the odd dynamics of the estate tax, with awkward implications:

Starting Jan. 1, the estate tax -- which can erase nearly half of a wealthy person's estate -- goes away for a year. For families facing end-of-life decisions in the immediate future, the change is making one of life's most trying episodes only more complex.

"I have two clients on life support, and the families are struggling with whether to continue heroic measures for a few more days," says Joshua Rubenstein, a lawyer with Katten Muchin Rosenman LLP in New York. "Do they want to live for the rest of their lives having made serious medical decisions based on estate-tax law?"
The greater challenge will toward the end of 2010 if Congress has still failed to act:

Under current laws in effect until the end of this year, the size of the exemption is $3.5 million per individual or up to $7 million per couple. The tax is slated to disappear entirely on Jan 1. ...

The estate tax is scheduled to return in 2011 at a 55% rate with an exemption of slightly more than $1 million.
Thus, next December, heirs will face a strong incentive to pull the cord on ederly relatives.

The right policy is to make repeal permanent.  The estate tax punishes saving relative to spending and serves mainly to prop up the incomes of estate tax lawyers and accountants.

9 comments:

Steve said...

I wonder if there are any bodies out there that haven't been reported.

Anonymous said...

now that it's january 1st, i'm finding dead relatives all over the place

Anonymous said...

dirty talking guide -
discus fish secrets -
duplicate file cleaner -
dw insider -
earth4energy -
earth 4 energy -
easy tv soft -
easy web video -
eatstopeat -
eat stop eat -
end your tinnitus -
error doctor -
evidence smart -
fap winner -
fat burning furnace -
fat loss 4 idiots -
final sync -
final uninstaller -
firewall gold -
fitness model program -
fit over 40 -
fit yummy yummy -
flatten your abs -
forex auto pilot -
gain opinion -
gold secrets -
government records -
governmentregistry -
government registry -
green diy energy -
healthy urban kitchen -
highest pay surveys -
holo think -
homemadeenergy -

Anonymous said...

home made energy -
i want a teaching job -
joyful tomato -
keyword elite -
learn photoshop videos -
lmt forex formula -
lower body make over -
macro virus -
malware bot -
maternityacupressure -
maternity acupressure -
meet your sweet -
microcap millionaires -
moles warts removal -
money siphon system -
muscle gaining secrets -
my list strategy -
my phone riches -
natural cancer treatments -
online tv pc -
panic away -
pdf creator -
peel away ads -
pips leader -
ppc web spy -
prevent sweating -
privacy control -
publicrecordspro -
public records pro -
questions for couples -
quick article pro -
quick paid surveys -
quit smoking today -
reg defense -

Anonymous said...

fat loss 4 idiots -
final sync -
firewall gold -
fitness model program -
fit over 40 -
fit yummy yummy -
flattenyourabs -
flatten your abs -
forex candlesticks made easy -
Auto Content Cash -
Banner Ad Blueprint -
Copy Paste Systems -
Every Other Day Diet -
Farm Ville Secrets -
Plugin To Green Profits -
Rapid Mass Traffic -
Tinnitus Miracle -
Tweetomatic Profiteer -
Woodworking 4 Home -
24 Hour Internet Business -
Blogging To The Bank -
Burn The Fat -
Earth 4 Energy -
Fap Turbo -
Fat Burning Furnace -
Fat Loss 4 Idiots -
Foex Auto Money -
Hemorrhoid Miracle -
Legit Online Jobs -
Magic Of Making Up -
Magni Work -
Micro Niche Finder -
Plr Article Software -
Pregnancy Miracle -

Anonymous said...

Software Submitter Pro -
The Affiliate Code -
The Diet Solution Program -
Truth About Abs -
Zygor Guides -
forex killer -
forex megadroid -
get rid of your cellulite -
g money pro -
google shadow -
governmentregistry -
government registry -
gov resources -
health biz in a box -
homemadeenergy -
home made energy -
hybrid water power -
i software tv -
joyful tomato -
keyword spy pro -
kingdom of pets -
macro virus -
malware bot -
maternityacupressure -
maternity acupressure -
meet your sweet -
microcap millionaires -
moles warts removal -
mole wart removal -
muscle gaining secrets -
natural cure for yeast infection -
paid surveys etc -
panic away -
pdf creator -

Anonymous said...

maximum paid surveys -
meet your sweet -
mobile tv pro -
musclegainingsecrets -
muscle gaining secrets -
my dish biz -
one minute cure -
paid surveys online -
panic away -
pc tv 4 me -
pdf creator -
perfect optimizer -
pick the gender of your baby -
plr wholesaler -
private niche empire -
project quick cash -
public records pro -
pull your ex back -
quick article pro -
quit smoking today -
reality creation secrets -
reg clean -
regi cleanse -
registry easy -
registry fix -
registry winner -
reg sweep -
reg tool -
reverse mobile -
reverse phone detective -
richard mackenzie direct -
rich garbage man -
rocket chinese -
rocket french -

Anonymous said...

recipe secrets -
reg clean -
regi cleanse -
registry easy -
registry winner -
reg sweep -
reverse mobile -
reverse phone detective -
revolutioniz -
richard markenzie direct -
sale hoo -
simple php -
smtp 2 go -
spyware nuker -
surveys 4 checks -
tax liens made easy -
the bad breath report -
thedietsolutionprogram -
the diet solution program -
the handcrafters companion -
the retired millionaire -
the super mind evolution system -
truth about abs -
truth about diets -
turbulence training -
ultimate content creator -
video piggy -
vincedelmontefitness -
vince del monte fitness -
viral tweets -
warp speed fat loss -
webstigate -
win clear -

stop pre ejaculation said...

Thanks a lot for this time sharing about ESTATE TAX UPDATE. This is really a nice reading to be sharing.