More on the Future of the Federal Estate Tax

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For those seeking some certainty in the tax laws to be able to do more effective planning, the situation on the Hill may seem more like the “Hell.”

I, for one, am advising my clients not to count on a $3.5 million or more exemption in the future as a given.  This goes for current planning and post-mortem planning, such as funding credit-shelter trusts by disclaimer after the death of the first spouse to die.  Not that my clients always take my advice…I just make sure my file is documented so if the kids end up with large estate tax bill, I won’t be the one to blame.