Oct 13, 2010

Dealing with estate tax uncertainty

The stock market is up...then down. Housing values are depressed. Medicare laws are changing. And of course, no one knows precisely what next year's federal estate tax will look like. The exemption may be $1 million. It may be $3.5 million. Or something else entirely. Retirees who want to plan for their financial security, and for their loved ones after they're gone, face quite a challenge this year. It's a road fraught with unknowns.

To deal with the next year's estate tax situation, many people are simply watching and waiting. But there are several proactive steps that you may want to consider taking right now. Among them:  Maximizing 529 plans, perhaps even buying a term life insurance policy (which your beneficiaries will own) to cover a portion of  next year's estate taxes. For a closer look at some of these potential, stopgap measures, click here.  And of course, feel free to contact us if you would like to discuss any of these strategies in greater detail.

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