The estate tax update
A Bethesda, MD, colleague has been told by reliable sources that the vote for a permanent extension of the 2009 estate tax law should be coming up in the morning of Friday, December 4, 2009 in the House of Representatives. This colleague is reporting that there are some groups arguing that a $3.5 million exemption is too high and the business groups are still splintered with the National Association of Manufacturers, the U.S. Chamber of Commerce and the National Federation of Independent Businesses all calling for a $5 million/35% estate tax rate. This colleague also reports that there are even some groups still calling for repeal.
Whatever the outcome, continue to look for qualified attorneys affiliated with groups like WealthCounsel or preeminent lawyers in your state’s bar association estates and trusts committee. If you have any questions, feel free to call our office.