By the way, 2010 is the year to die if you are rich
Posted by elusivejustice on February 28, 2007
For those of you who will pass along an estate of more than 2 million dollars as an individual, 2010 is the year to pass. The Federal Estate and Gift Tax will not exist that year. This year, 2008 and 2009, the exemption totals $2 million (plus various other exemptions). Then, in 2011, the tax will be resurrected with a lower exemption level (unless Congress acts first). So, if you are rich but failed to find lawyers that could create loads of loopholes and bypasses, shoot for 2010. I am NOT advocating suicide, but the ultra-rich generally can achieve the goals they set for themselves.
