I attended the Bucks County Estate Planning Council's meeting last night. The speaker's topic was on the Federal Estate Tax legislation or should I say the lack thereof. Since 2001 when the new law was implemented with a 2010 sunset, we have anticipated that Congress would be addressing the pending sunset. Well, we are half way through 2010 and nothing.
One third of the audience felt that Congress would act by year end, 1/3 felt they would act in 2011 and the other 1/3 felt they would not act at all. In other words, it is anyone's guess on the status of, among other things, the Federal Estate Tax which if Congress does nothing will take us back in time.
So what does an attorney advise a client? Flexible planning is the key with Disclaimer Trusts and QTIP trust being high on the list. Want to know more, contact us at www.ythlaw.com
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