The estate tax is making a return in 2011, what is everyone to do with their estate plans? Also, the return of the Federal Estate tax may also bring back the California State Tax, also known as the "Death Tax" by many. Historically, the California Estate Tax piggybacked on the Federal Estate Tax. Having an estate plan is one method that people use to avoid those hefty estate taxes. If you live in the California area and are considering setting up an estate plan you should consult with a
Los Angeles estate litigation lawyer.
On January 1, 2011, the Federal estate tax rate will return to its prior rate which means estates will be taxed at rates beginning at 37 percent and going as high as 55 percent. Generally, this estate tax applies to assets exceeding $1 million. Therefore, having a good estate litigation attorney is vital to protecting as many of your assets as possible from being subject to the estate tax.
