In the article link below, these changes are discussed in detail and that's good because I don't believe you want to read a 770 page article from me. Here is the article:
Wealth Management Article on Estate Tax Changes
As you can see the changes to the estate tax system are significant! Here is a short list:
1. Immediate increase in the exemptions to $22 million.
2. Repeal of the death tax in the year 2024.
3. Other changes too numerous to list here. Please read and print the article to have for reference.
If you read that entire article I will buy you a cup of coffee! Congratulations. Suffice it to say that this proposal has not passed yet and my never do so. Watch for more news about this. I view this as a continuation of the trend started in 2010 to remove the tax overlay from your estate planning. Whether this will pass is a question not addressed here.
Thank you for your attention and interest in estate planning.
Bernie Greenberg
