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Tax Feb 2011- "The Return of Estate Taxes – Should You Elect Out?"

Tax Feb 2011- "The Return of Estate Taxes – Should You Elect Out?"

Tax Feb 2011- "The Return of Estate Taxes – Should You Elect Out?"

Excerpt


The Return of Estate Taxes – Should You Elect Out?



One great concern for many tax planners at the end of 2010 was how to adjust for the reversion of estate tax provisions to pre-Bush levels. Congress and the President solved that problem with the passage and enactment of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 – at least for a few years. This law reinstated the estate tax for 2010, 2011 and 2012; but it also allowed executors of estates for those who died in 2010 to elect out of estate tax. It’s important to understand which option for settling an estate is best for you.


  



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