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Inaction by Congress has left the dying/inheritance process in chaos! Uncertainty reigns! No one knows what to do! Although in 2010 ONLY there is no limit on the amount of money and other assets a person can leave to heirs without having to pay federal estate taxes, there are a number of critical caveats. CAVEAT [...]
The federal estate tax, or “death tax” is in the news these days. This year (2010) there is no federal estate tax. It was repealed, but only for one year. The federal estate tax will be reinstated in 2011, with a $1 million exemption and a maximum effective rate of 55%. In general, this means [...]