Friday, May 06, 2011 Recent Press Coverage of Estate Planning (May 6, 2011)
Arden Dale of the Wall Street Journal reports that fewer people may owe federal estate taxes because of the high federal exemption level, but an increasing number may be paying state estate taxes. Some states, such as Connecticut, are attempting to lower their estate tax threshold to collect more in estate taxes. See Some States Push for More Estate Taxes (Apr. 29, 2011).
Kelly Greene of the Wall Street Journal writes about ways to use the increased gift tax exemption to pay the education expenses of children and grandchildren. Some grandparents are setting aside money using the current high gift tax exemption to create common trusts for infants and toddlers, whereby grandchildren can in the future access the trust for college costs. See Paying Grandkids’ College Bill (Apr. 30, 2011). |