12/17/2010 – with the passage of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, Estate Tax law is updated with a retroactive rate for 2010 (although estates that came into being in 2010 can make choices) of 35% and a $5,000,000 exemption. The rate will continue into the future through 2012, and the exemption is to be indexed beginning in 2013. In addition, couples can jointly use the full $10,000,000 available between the two on either estate, split however they choose.
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I can learn from you, you can learn from me - please leave your comments and links!Jim Blankenship, CFP®, EA, is an expert in personal retirement, IRAs, and tax issues, with more than 25 years of experience in the industry. Read more from this author
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[...] feed for updates on this topic.Powered by WP Greet BoxAs an update to the earlier post – “Estate Tax Changes for 2010 and 2011” – I’ve recently seen some compelling arguments and interesting predictions about what may or [...]