We Constantly Monitor Estate Tax Legislation
Your estate includes anything of value that you wish to pass on to others upon your death. A will should contain instructions for the executor of your estate, who will be responsible for the administration of your property, money and assets. Estate planning involves more than probate and your will–it can involve ensuring that your insurance policies are structured appropriately, setting up trusts for your heirs and minimizing your estate-related taxes.

One of the challenges about estate planning is due to the roller-coaster changes that estate tax law has been subject to during the past decade and into the foreseeable future. Congress is expected to consider estate tax legislation in 2009. The estate tax has been phasing down and is scheduled to end in 2010, then return in 2011 under the old 2001 parameters.

Will Congress enact a bill to extend permanently most of the middle-class tax cuts enacted in the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003? No one knows exactly what will happen with estate tax proposals, and for this reason, Abalos & Associates, PLLC constantly monitors estate tax legislation.