Thursday, December 23, 2010

Deborah Jacobs: Married's Couple to the New Estate Tax Law

I have written about Deborah Jacobs and her excellent book Estate Planning Smarts on this blog before.

If you have any interest in the subject, or know anyone who should, I highly recommend her book (and, no, I do not have any financial interest in this matter, nor have I ever met Ms. Jacobs).

Here's the link to her web page:

Deborah also has written a very useful column in about the new estate tax law. The new package contains a number of features that can be very tax-friendly to wealthy couples. Here's an excerpt from her article, with the full link below:

The sweeping tax overhaul that President Obama signed Dec. 17, raising the exemption from federal estate tax to $5 million a person, includes a wonderful new break for widows and widowers. Starting in 2011, they can add the unused estate tax exemption of the spouse who died most recently to their own. This dramatic change enables spouses together to transfer up to $10 million tax-free. It also eliminates the need in many cases for the tax-planning gyrations that lawyers routinely recommended to preserve each spouse's estate tax exemption amounts. - Magazine Article