Friday, July 23, 2010 Press Coverage of Estate Planning this Week (July 23, 2010)
Conrad de Aenlle of the New York Times discusses estate planning in the context of people who live in more than one country, noting that sometimes two wills are necessary to cover both local law, and the laws of the country of permanent residence. He also stresses coming to grips with the last step you will ever take, death, and having at least some basic instructions in place. See Estate Planning Step 1: Recognize You Are Going to Die (July 15, 2010).
Sandra Block of USA Today contrasts the fate of George Steinbrenner’s heirs with what could happen to heirs of decedents in 2011 and beyond. Because Steinbrenner died in 2010, his estimated $1.15 billion estate escaped approximately $500 million in federal estate taxes; beginning in 2011, under current law, decedents will face taxes of up to 55 percent on estates over $1 million. Block also discusses the current status of estate tax reform in Congress. See Estate Tax to Return in 2011, And It Could Hurt Ordinary Folks (July 22, 2010). |