David M. Frees III On New Federal Estaet Tax Bill Passes

Today, the hose passed a bill extending the federal estate tax into next year and beyond. The bill passed 220 to 200 with all support coming from the democratic side of the house. This bill keeps the tax rate at 45% and exempts 3.5 million dollars. A married couple can still protect 7 million dollars of assets and life insurance, but it will still take some careful estate planning.

This is just a quick update. The Senate will now have to take up the issue and is likely to change the bill before the end of the year. We will keep you posted.

David M. Frees III

If you estate plan is more than two years old, it may be desirable to change or update the plan.
For an appointment to review or update your plan please call Donna Brownback or Denise Fox at 610-933-8069 or email dfrees@utbf.com and mention this article to receive a discount on your planning.

Unruh, Turner, Burke and Frees maintains offices servicing the entire Philadelphia region, including the Main Line, Ardmore, Bryn Mawr, Berwyn, Paoli, Chester Spring, and the surrounding areas. The firm has a number of probate, estate planning, and trust lawyers.

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