Bloomington, Indiana Estate & Elder Law Blog

Tuesday, May 11, 2010

Possible Estate Tax Proposal Forthcoming?

Despite promises by our congress that estate tax reform would be a priority in the new year, as of yet, nothing has happened. It has been reported that Senate Minority Whip Jon Kyl (R-Ariz) is working on an estate tax proposal. This article from The Hill discussed that proposal which would set the estate tax exemption at $3.5 Million with increases up to $5 Million over time and tax rates of 35%. It was not clear how much success this would have of passing with the pay-go rules that may require corresponding "off-sets" to the proposal. Stay tuned.


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