If Congress doesn’t change the law soon–and many experts think it won’t–the estate tax will come roaring back in 2011.
On a $5 million estate, the tax consequence of dying a minute after midnight on Jan. 1, 2011 rather than two minutes earlier could be more than $2 million; on a $15 million estate, the difference could be about $8 million.
THANK GOD I DON’T HAVE 5 MILLION DOLLARS! I’d be sleeping with my eyes open from now till New Years, lest I meet my demise at the business end of a pillow stuffed in my face by a greedy heir.
IT’S KILL OR BE KILLED NOW!