Federal Estate & Generation-Skipping Transfer Tax Repeal in 2010
January 8, 2010
Unless Congress acts in 2010, no Federal estate tax will be imposed on the estate of an individual dying in 2010, regardless of the size of the estate and even if the estate does not pass to a spouse. Not since 1915 has there been a period when no Federal estate tax was in existence. And, property can pass to grandchildren or more remote descendants in 2010 without incurring a generation-skipping transfer (“GST”) tax so long as Congress does not act. Find out more about what this can mean for you by reading our Estate Planning Alert January 2010.