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News Updated Date : |
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November 27th, 2009 01:00am |
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Estate Tax Planning Law Firm Services in
California
Estate taxes are imposed upon estates that have a
net value of $2 million or more. That amount will increase to $3.5
million in 2009. In 2010, the estate tax
will disappear completely.
Then, unless Congress passes an extension, the exemption will
revert back to $1 million in 2011. For estates that approach or
exceed these amounts, significant estate taxes can be saved by
proper estate planning, usually before your
death or, for couples, before one of you dies.
Keep in mind that tax laws often change. And estate planning for tax purposes must
take into account not only estate taxes, but also income, capital
gains, gift, property and generation-skipping taxes as well.
Qualified legal advice about taxes and current tax law
should be obtained from a competent lawyer during the estate planning process.
California State Bar
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