Federal Estate Tax Law Still up in the Air

• Posted by Bruce McDonald
• July 22, 2010
• Executors Personal Representative Taxes Wills
• (0) Comments

The recent death of billionaire George Steinbrenner, owner of the New York Yankees, put into focus the bizarre state of affairs of the federal estate tax, also known as “death tax.”   The timing of his death saved his heirs a fortune. http://www.usatoday.com/money/perfi/taxes/2010-07-21-estatetax21_CV_N.htm?csp=obnetwork

For Mr. Steinbrenner, next year’s estate tax law won’t matter.  To many of the rest of us, it does indeed matter. We’ll be covering the topic in the blog more in depth as the rest of the year unfolds.  Meanwhile, for a good background on the law, see http://www.nolo.com/legal-encyclopedia/article-32263.html