Let me bore you a while.
I went to an estate planning seminar today. Right now, if some one dies their estate is subject to tax. There's a temporary tax act in effect currently which reduces the amount of tax the decedent would owe. It's been gradually getting larger, until in 2010 there will be no estate tax.
In 2011, the tax act expires and it returns back to the original amount, which is lower than it is now. According to those tracking this tax act, Congress does not have enough support to repeal this temporary tax act, so it's pretty much a done deal.
So, to repeat, there's no estate tax if you die in 2010.
So my question is, do you think we are going to see some strange news stories in the latter half of 2009 and 2010?
Imagine...
...On Dec 28, 2009, doctors tell the family their multi-millionaire father is brain dead, and asks the family if they want to pull the plug even though he's got a DNR on file. They force the doctor to resuscitate....but then they wait until Jan 1, 2010 and tell the doctor to pull the plug after a "change in mind", thereby saving the family from paying millions in tax to the IRS.
...On Dec 28, 2010, doctors tell the family their multi-millionaire father is brain dead, the father wants to stay on life support. The family decides against doing so quickly, and pulls the plug on Dec 31, thereby saving the family from paying millions in tax to the IRS.
...If you're planning on killing your parents for inheritance, 2010 is the year. How many of those are we going to see?
I went to an estate planning seminar today. Right now, if some one dies their estate is subject to tax. There's a temporary tax act in effect currently which reduces the amount of tax the decedent would owe. It's been gradually getting larger, until in 2010 there will be no estate tax.
In 2011, the tax act expires and it returns back to the original amount, which is lower than it is now. According to those tracking this tax act, Congress does not have enough support to repeal this temporary tax act, so it's pretty much a done deal.
So, to repeat, there's no estate tax if you die in 2010.
So my question is, do you think we are going to see some strange news stories in the latter half of 2009 and 2010?
Imagine...
...On Dec 28, 2009, doctors tell the family their multi-millionaire father is brain dead, and asks the family if they want to pull the plug even though he's got a DNR on file. They force the doctor to resuscitate....but then they wait until Jan 1, 2010 and tell the doctor to pull the plug after a "change in mind", thereby saving the family from paying millions in tax to the IRS.
...On Dec 28, 2010, doctors tell the family their multi-millionaire father is brain dead, the father wants to stay on life support. The family decides against doing so quickly, and pulls the plug on Dec 31, thereby saving the family from paying millions in tax to the IRS.
...If you're planning on killing your parents for inheritance, 2010 is the year. How many of those are we going to see?
Last edited by Pug (2008-05-19 20:42:17)