estate tax repeal

Using Political Futures Markets to Forecast Your Estate Tax Exemption

You can tell your readers care about you when for four weeks you don’t post, and they begin to inquire after your health. Thank you, and your publisher is pleased to report that he is alive and very well! This has been a very busy month. No one seems to have gotten the memo that [...]

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Breaking News – $5m Exemption and 35% Rate Sought As Amendment to Small Business Jobs Bill

It may be a lazy summer day in the Eastern United States, but not on the transfer tax news front. The Hill reports here and Pat Lynch’s blog reports here that Senators Kyl and Lincoln introduced legislation late on Tuesday, July 13 that would require the Senate Finance Committee to amend to amend H.R. 5297 [...]

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Update: Forecasting the Fate of the Estate Tax

KYEstates readers, thanks for your patience. Yes, post volume has been down. That’s not because the transfer tax world has suddenly become boring – perish the thought. Rather, it’s been an extraordinarily busy month. First, your publisher visited his brother in Brooklyn and then went to his 10th Reunion. That was a little tough, because [...]

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Announcing the KYEstates Estate Tax Forecasting Contest

KYEstates readers, do you miss the halcyon days of 2003, when Howard Dean told us that “you have the power“? We can’t bring those days back, but we are happy to report that in 2010: You have the power…to let your own voice be heard about what is going to happen with the estate tax. [...]

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House Passes Bill on 10-Year GRAT Terms; Craziest Probate Case of the Year?

As other T&E bloggers have capably noted (e.g., Gary Beyer here and Hani Sarji here), the House passed H.R. 4849 (the Small Business and Infrastructure Jobs Tax Act of 2010) on March 24. The vote was 246-178 in favor of the bill (see the full report on the vote from the New York Times here). KYEstates alerted [...]

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Forecasting the Fate of the Estate Tax

Today KYEstates is one month old!  The site has grown quickly, along with readership in the T&E Community and elsewhere — thank you, readers!  It’s a Friday in early springtime, so it’s already a good day.  Let’s make it even better, shall we, with a quick review of recent reports on the status of the estate [...]

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Final Section 2053 Regulations (T.D. 9468): Save Ferris!

KYEstate$ readers are well aware that administration expenses and claims against the estate are deductible from the decedent’s taxable estate under section 2053.  This is economically significant, of course, because when an estate is taxable, the government effectively picks up 45% of the attorneys’ fees or claim. (Ah, yes, the faraway days of December 2009 [...]

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FY2011 Green Book: Administration Plans on Estate Tax Return

Will the estate tax, like an old soldier, fade away? Or, like the same old soldier, will it return? The FY2011 Green Book, recently published by our friends in Washington, shows they are planning for the tax to return. The transfer tax sections of the FY2011 Green Book are looking awfully similar to what we [...]

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Proposed Florida Legislation Responds to Estate Tax Repeal

Since late December, when it first appeared that estate tax repeal would actually happen, estate planners nationwide have been discussing its potential negative consequences.  Consider this fact pattern: a second marriage, and a normal A-B estate plan.  The plan uses a formula allocation clause directing the greatest amount of assets that can pass free of estate [...]

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Welcome to KYEstates

Welcome to KYEstates!  2010 is a remarkable year in the trust and estates world because estate tax repeal has actually happened.  As of now, we expect the tax to return, but divining the details requires a close watch on Washington, and a lot of patience. While we watch and wait, there continue to be many [...]

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