The family of a Texas billionaire, Dan Duncan, will benefit from this year’s estate tax repeal. Although Mr. Duncan’s estate is estimated to be $9 billion, no estate tax will be due. Remember, the repeal only lasts this year. If the law does not change before 2011, the estate tax will come back and estates over $1,000,000 will be subject to a federal tax of 55%! If your estate (including the death value of all life insurance policies) is $1,000,000 or more, make sure to speak to an experienced estate planning attorney about how you can minimize estate taxes. Call Wiggen Law Group today to schedule your FREE estate planning consultation.
Read more about Dan Duncan’s estate here: