Be flexible! Estate planning for an uncertain future

Description

Abstract: Given the estate tax’s uncertain future, it’s more important than ever for people to build flexibility into their estate plans. During the last several years, exemption amounts have increased while tax rates have dropped. Under current law, the estate tax will disappear in 2010, only to reappear in 2011, when the exemptions and rates are scheduled to spring back to their 2001 levels. But lawmakers are expected to change the estate tax regime before 2010. This article explains strategies to use to build flexibility into an estate plan to make the most of any tax changes Congress devises.