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Another Estate Tax News Flash

It was reported this morning by Tara Siegel Bernard of the New York Times that President Obama and Republican leaders have struck a deal that “would ultimately set an exemption of $5 million per person and a maximum tax rate on estates of 35 percent — a higher exemption and far lower rate than many Democrats wanted.”

While we are hopeful that this deal might have “legs”, whether democratic congressional leaders will accept President Obama’s bargaining is really another question.

See the New York Times article here: http://bucks.blogs.nytimes.com/2010/12/07/what-the-tax-deal-means-for-you/?scp=1&sq=35%%20tax&st=cse

--Attorney David M. Grant