Think Congress Is “Crazy” For Not Passing Some Kind Of Federal Estate Tax Law? Paul Volcker Agrees With You.
Tuesday, February 23rd, 2010
David M. Frees III on What To Do About The Federal Estate Tax Problem
If you are confused about why Congress allowed the federal estate tax to lapse and then failed to enact a new law – leaving Americans in an estate planning limbo, then you are not alone. Most political commentators, trust and estate lawyer, and even the past federal reserve chairman Paul Volcker have weighed in on this issue by condemning congressional inaction.
Bur Volcker recently said what many Americans have been thinking – that this situation is “crazy.” For more on Volcker’s remarks on Congress and the federal estate tax, click here.
So what is a confused citizen to do? Well first, read a few articles on the federal estate tax so that you are more familiar with this crazy situation. Then, you’ll probably want to review your existing plan with your lawyer to make sure that it works now -when there is no tax, as well as next year when the tax returns with a vengeance.
Being an informed consumer of legal, tax, and estate planning advice is more important than ever.
David M Frees III
Chairman: Trust, Estates, and Wealth Preservation Section
Unruh, Turner, Burke and Frees
Malvern, Phoenixville, and West Chester Pennsylvania
610-933-8069
If you are a Pennsylvania resident and want to update your estate planning, protect your heirs, or deal with the uncertainty of the federal estate tax please call 610-933-8069 and mention code FREES2010 for a complimentary phone or in person consultation.
