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Conway and Pannell

Article: The estate tax: complexity needn't be that complicated

C & P - Wednesday, September 05, 2012
(FORBES) "What makes the estate tax particularly complex is the fact that the law keeps changing. Both the amount that one can die with and still escape the tax and the rate that is charged when it does apply have fluctuated radica
lly in the last several years. In the odd year out, 2010, the estate tax disappeared entirely —just long enough for several billionaires, including George Steinbrenner, to die and avoid millions, even billions, in estate tax liability. But this coming year, unless Congress gets its act together, estates worth more than $1 million will face a daunting estate tax rate as high as 55 percent. I know farmers in the Midwest who net less than $100,000, but because of the high value of corn and soybean acreage, could potentially face estate taxes in the millions. Talk about having to sell the family farm!"  READ MORE

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