http://www.taxgirl.com/estate-tax-repeal-take-two/ Paying taxes is painful... but reading about them shouldn't be. Thu, 18 Mar 2010 00:17:36 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://www.taxgirl.com/estate-tax-repeal-take-two/comment-page-1/#comment-12975 Bill Tue, 01 Dec 2009 18:42:34 +0000 http://taxgirl.com/?p=89#comment-12975 I must be missing something. Maybe it's my demented thought process. When this law was enacted, I was amazed our tax system had degraded to the point that we may need tax planning on which year is best for "pulling the plug". Does this seem to be over the top? I've seen little discussion on this; probably because this was supposed to change before the end of 2010. However, it hasn't so far. Suppose it doesn't change. If I had a taxable estate, was in poor health, and cared how much more I could leave to my loved ones by passing in 2010 instead of waiting, the timing of my death for tax purposes just might become a critical part of my estate plan. Conversely, suppose the heirs of a large estate foresee the millions that would evaporate if death occurred after 2010. Could this foster some interesting "whodunits"? Is that sick? Perhaps; but isn't it just as sick to enact tax laws that can make those scenarios possible? Congress really needs to fix this! I must be missing something. Maybe it’s my demented thought process. When this law was enacted, I was amazed our tax system had degraded to the point that we may need tax planning on which year is best for “pulling the plug”. Does this seem to be over the top? I’ve seen little discussion on this; probably because this was supposed to change before the end of 2010. However, it hasn’t so far. Suppose it doesn’t change. If I had a taxable estate, was in poor health, and cared how much more I could leave to my loved ones by passing in 2010 instead of waiting, the timing of my death for tax purposes just might become a critical part of my estate plan. Conversely, suppose the heirs of a large estate foresee the millions that would evaporate if death occurred after 2010. Could this foster some interesting “whodunits”? Is that sick? Perhaps; but isn’t it just as sick to enact tax laws that can make those scenarios possible? Congress really needs to fix this!

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