If Your Assets Top $1m, Estate Tax Plan a Must
The Record, Bergen County, NJ › October 19, 2007
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Summary
Few people want to think about planning for death, but when 2011 gets here, more may wish they had.
If you have assets of more than $1 million, the cost of not planning will come in the form of potentially higher taxes if you die after 2010. That's when the current estate tax exemption (the amount that's not subject to tax) of $2 million in assets expires and reverts to the 2001 exemption of $1 million. The higher exemption was the result of President Bush's tax cut plan, which expires in 2010.See the full content of this document
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If Your Assets Top $1m, Estate Tax Plan a Must
This reversion to the previous exemption creates a greater urgency for estate planning and affects a bigger pool of people.
So before we go further, add ...See the full content of this document
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