Federal Estate Tax Is Still Uncertain After The Elections

Many people thought the recent elections would bring more certainty to the estate tax situation (for those who have not been following, there is no estate tax in 2010, but as of January 1, 2011, the estate tax will be levied on individuals with estates valued at over $1 million).

Following is a link to a good summary from Forbes.com as to why the recent elections may not bring certainty as expected.

Forbes – Estate Tax Uncertainty

The short message is, if you have an “estate” (and REMEMEBER, your estate is everything you own, including real estate, IRAs, 401ks, life insurance, business, etc.) that is anywhere near $1 million, you need to meet with an esate planning attorney to review your options.  A 55% percent tax awaits those who fail to properly plan . . .

Glenn Matecun

www.MichiganEstatePlans.com

Michigan Estate Planning & Elder Law Attorney

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