Estate Tax back in 2011
Started by notadmin
almost 16 years ago
Posts: 3835
Member since: Jul 2008
Discussion about
If only $1M is exempt and sheltering becomes more difficult, does this affect RE in NYC? when somebody inherits an apartment, how is it affected by the estate tax? http://www.forbes.com/2010/04/18/estate-tax-sharp-bite-2011-personal-finance-grats-flps.html?feed=rss_finance
An inherited apartment is subject to an appraisal - appraised price then becomes part of the estate.
i heard that 2010 might be retroactively applied
My spouse and I love our heirs, just not enough to try to die this year. LOL
ph41, the scary part is actually: if you want to KILL your spouse/parents, this is the year to do it.
Congress was supposed to fix this last year, but Obama had them puttering around with healthcare
Sigh, how can you estate plan when you have no idea what the heck Congress will do, if they do anything.
a lot of people would die this year if that were the case, but it won't happen... 100% chance of it being applied retroactively
There is a 100% chance of the government attempting to make the tax retroactive, and there is 100% certainty that a very wealthy new heir (the Steinbenner kids perhaps?) with take contest this probably all the way up to the Supreme court....and there is 100% UNcertainty of how the supreme court will rule...stay tuned...