Wednesday, December 23, 2009 Federal Estate Tax UpdateOur office has been following the latest developments on the Federal Estate Tax, as this important tax could be significant for a large number of individuals and families. Depending on what Congress does, your Will or Living Trust will need to be updated accordingly. With the end of the year rapidly approaching, the possibility is much greater that Congress will not act on the Federal Estate Tax before January 1, which would mean that there would be no estate tax in 2010. However, good estate planning attorneys know that it is possible Congress could enact the tax retroactively after the first of the year. However, my sources who are experts in Constitutional Law say that may be ripe for a Supreme Court challenge. We shall see. But meanwhile, we will keep you updated on the latest developments... |