Estate Tax Relief Or Political Illusions?(Economic Growth and Tax Relief Reconciliation Act of 2001)(Brief Article)

National Underwriter Life & Health-Financial Services Edition, September, 2001 by Glassman, Peter

With their repeal of estate taxes, Congress and the administration have made it nearly impossible for us to help our clients develop prudent and reliable estate plans.

We could argue whether estate taxes are just. But that's different discussion. This is not a philosophical debate about the redistribution of wealth verses confiscatory double taxation. This is about creating the mirage of the elimination of estate taxes for political gain.

As a result of The Economic Growth and Tax Relief Reconciliation Act of 2001, beginning next year, estate tax rates will be reduced and credits increased until complete repeal of the tax in 2010. It's worth noting that the most significant relief is toward the end of the decade.

Under the new rules, when...

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