Article - 2010: The Best Year to Die?

Another great article this morning, this one on Estate Tax planning in 2010, this one would be great for a seminar as it's written from the humorous perspective of a father who's kids are telling him to die in 2010. Here's a great quote from the intro and a link to the full article - SHARE THIS INFORMATION, IT'S POWERFUL.

Have a great Friday!

“My kids had just sat me down and given me the bad news: I was going to die. They couldn't tell me what was going to do me in. But I was clearly a goner. The only thing they could guarantee was the year: 2010. Anytime during the year was OK with them. And they would be financially, if not emotionally, devastated if I was still around Jan. 1, 2011. Not that they don't care for me. "It's not personal, Dad," my son Josh said. "It's just business -- good tax planning”

They must have read my chapter on the Economic Growth and Tax Relief Reconciliation Act of 2001. That's the bill in which then-President George W. Bush and Congress slashed income and estate tax rates.

The best part was scheduled for 2010. The then-Republican-controlled Congress decided that the heirs of anybody who died during 2010 would pay zero in estate tax!

But on Jan. 1, 2011, the estate tax exclusion reverts back to $1 million, and the maximum rate climbs back to 55%.

Full article