While this is only a budget bill, and only in the Senate, there was some movement on estate tax reform today. If this type of bill were to ultimately pass the house and senate it would allow many more couples, and individuals to do estate and asset protection planning for their heirs without some of the difficult and expensive planning techniques now used only to avoid estate taxes.
While we are a long way from a bill like this becoming law, any increase in the shelter amount would allow planning more focused on protecting spouses and your other surviving heirs from divorces and lawsuits.
To read more on David Frees’ analysis of the Senate Budget bill and the estate tax click here.
For more information on estate planning, legal tools for executors, and asset protection planning, by probate, trust and estate planning lawyer David M. Frees III visit www.paestateplanners.com