California Estate Planning Blog by Kevin Staker

December 9, 2010

It’s 3 In the Morning and I am Worrying About This Stuff

Filed under: estate tax,estate tax news,Kevin Staker — Kevin Staker @ 3:48 am

Woke up wondering if Congress really is considering making the 2010 rules optional and giving estates option of going with 2009 rules.  This would help medium size estates to have a full step up in basis.  Could not find any other articles mentioning such word.

However, did find a good article at Salon that explains better than I did yesterday why an attempt by Congressional Democrats to change the exemption to $3,500,000 will fail.

We shall see.


1 Comment »

  1. Kevin,

    You recently wrote: “However, if the estate tax exemption is only $1M when the [sic] die, the extra $4M in gifts will be “grossed up” and included in their taxable estate, and so be subject to estate tax.” Others I have spoken with seem to believe the opposite. Do you have some statutory authority for your position?

    Comment by Robert Conrad — December 23, 2010 @ 3:51 pm | Reply

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