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2010 Estate Tax History

Call Richard Mayberry to Update Your Estate Plan
  • All plans signed prior to 2001 
  • Any plan using funding formula 
  • If you are seriously ill, and your plan uses disclaimer funding
  • A loved one passed away in 2010
Estate Tax

The federal estate tax lapsed on Jan. 1, 2010. Under current law, the tax returns with a vengeance. With Congress action--only $1 million per estate will be exempt from a stiff 55% tax. Compare that the $3.5 million exemption and a 45% rate in 2009. 

All 2010 deaths of Virginia residents will be treated as a 2009 death for estate tax.