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Changes…Estate Tax Relief Until 2012! You Need to Review Your Trust…

By Kristina R Haymes

From San Diego Will and Trust Attorney, Haymes Law Group, Kristina Haymes Seriously, I didn’t think it would pass…. but I guess I underestimated the power of politics… We have a 2 year extension…. Estate Tax Relief until December 31, 2012. What this means is that if you or your loved ones die between now and the end of 2012, you can pass $5 million to your heirs tax free!  Then, what is over will be taxed at 35%. So, this is good news for many San Diego Families… who were facing the prospect of a 55% tax on assets over $1 million. However, 2 years isn’t a long time, so we will have to see what the long term picture looks like. Ultimately, this only reinforces the way that we practice law — and that is to regularly review our clients’ trusts and estate plans to make sure they are up to date...continue to full post

Full post as published by Mediation Marketing Tips on December 22, 2010 (boomark / email).