Wealth Matters

Advisors like Myra Salzer are not standing pat in helping clients with their estate and tax planning, despite uncertainty over the Administration’s plans. Here’s how your peers are taking action now

While the outcomes of the healthcare and financial services reform debates now in high gear in Washington will have pivotal effects on advisors this year and into next, lawmakers have yet to weigh in on another vital issue of importance to advisors and their clients: whether to let the estate tax expire in 2010. If Congress fails to act this year, the current tax rate of 45% for assets above $3.5 million will expire in 2010, and return at higher rates in 2011. Come 2011, the previous exclusion of $1 million returns, and the top rate for assets above that amount would revert back to the 55% level set in 2001.

The fate of the estate tax lies in the hands of the Senate Finance Committee and its chairman, Max Baucus (D-Montana)...

Investment Advisor: Wealth Matters