Estate Tax Changes Review NOW!

There is a good chance that the repeal of the estate tax will end at the end of 2010.  This means rates will return to the days of 2002.  It seems far away but start preparing now or major consequences could occur.  Here are a few things to consider.

First, list all charitable organizations (including schools and universities) you expect to mention in your estate plan and the type or amount of property you intend them to receive.

Next, keep complete information about assets other than cash or securities (real estate, automobiles, and boats are examples).  Indicate whether the assets are in your name or if they are jointly owned with a spouse or other individual.  Be certain to list the location, especially if out of state, of each asset.

Lastly, retain all copies of any gift tax forms you previously have filed.  I will keep you posted on more of these important items in the upcoming months.

02/05 - BACK