Quote:
The federal estate tax rules keep changing. Under a 2001 act the first $3.5 million was exempt in 2009. In 2010 there is no estate tax. Under the 2001 act it will return in 2011 with only a $1 million exemption, but lawmakers are expected to enact new legislation to make the exemption somewhere from $3.5 to $5 million.
So your telling me that if my property is worth under a million , I don't have to worry about them paying a large death tax when i die....GREAT NEWS
The way it stands now, yes. $1 million is the exemption for 2011 through 2013 unless congress acts to raise the amount of the exemption. They are expected to.