ILNews

Federal estate tax law takes effect

Back to TopCommentsE-mailPrint
Indiana Lawyer Rehearing

New tax changes went into effect Jan. 1 that include a 35 percent estate tax rate as well as a $5 million per person and $10 million per couple exemption.

The last-minute lame duck congressional changes in December came as a surprise for many estate planning and wealth transfer attorneys, who predicted that either lawmakers would allow the Bush-era tax cuts to lapse or that the 2009 rate would have continued so that the first $3.5 million was tax free and anything more than that was taxed at 45 percent.

These changes are only in place for two years, and there is no guarantee that these tax cuts will be in place after Dec. 31, 2012.

Rehearing "Death and tax uncertainty" IL Nov. 24-Dec. 7, 2010

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in Indiana Lawyer editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Indiana State Bar Association

Indianapolis Bar Association

Evansville Bar Association

Allen County Bar Association

Indiana Lawyer on Facebook

facebook
ADVERTISEMENT
Subscribe to Indiana Lawyer
ADVERTISEMENT