Archived posting to the Leica Users Group, 2008/04/09
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]Live until 2011 and then die..... no limitation on the Estate to be free of estate taxes...but ONLY in 2011 Unless the Laws change...... BTW, did you know that only 40,000 deaths a year result in any Estate tax actually being paid? I suspect that the overhead of the expense of trying to avoid, legally, plus the IRS cost of collection, enforcement, and legal challenge far exceeds the revenue collected. In California, they got rid of it..... probably precisely for the reasons I have given..... it costs more to collect than the revenue generated..... Frank Filippone red735i@earthlink.net For a person dying during 2006, 2007, or 2008, the "applicable exclusion amount" is $2,000,000, so if the sum of the taxable estate plus the "adjusted taxable gifts" made during lifetime equals $2,000,000 or less, there is no federal estate tax to pay.