Innovative Strategies For Winning Tax Controversies, Business Structuring And Estate Planning

What will Happen to Estate Tax

by | Dec 16, 2010 | estate planning, estate tax

The Democrats in the House are vowing to fight the Estate Tax exemption of $5m approved in the Senate. If no action is taken by December 31, the exemption will fall to $1m. Remember, this includes proceeds from Life Insurance policies, IRA’s, pension plans, homes and real estate. Many estates will be heavily taxed (up to 55%.)