Estate Planning Under The Tax Relief Act of 2010
BY MARY E. VANDENACK In the final hours of 2010, Congress passed the Tax Relief Act of 2010. As part of that act, the estate tax continues for two more years with an exemption level of $5 million and a maximum tax rate of 35%. The key issue is that the extension is only for two years. The possibilities as of January 1, 2013 include (a) possible repeal; (b) the 2011 and 2012 rules become...Read More
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Year-end Tax Thoughts: Estate Planning
BY MARY E. VANDENACK “In this world nothing can be said to be certain but death and taxes.” – Benjamin Franklin In fact, however… as of the date of this article, in the area of estate planning and the federal estate tax for 2010, uncertainty reigns supreme. Under the present estate tax regime, the federal government imposes an estate tax on your taxable estate up the...Read More
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Estate Tax
The Nebraska estate tax and generation-skipping transfer tax have been repealed for descendents dying or transfers made on or after January 1, 2007. (LB 367) When to Review Your Estate Plan The estate plan rules have been in a constant state of flux for the past several years. As a result, regular review should be considered. At a minimum, your estate plan should be reviewed upon: A move to...Read More
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