Austin Probate Lawyer

The estate tax relief instituted by the Economic Growth and Tax Relief Reconciliation Act in 2001 may be coming to an end. Under the current system, estates are granted an automatic $2 million exemption from estate tax, a threshold which will increase to $3.5 million in 2009.

However, all that may soon change - the Economic Growth and Tax Relief Reconciliation Act is scheduled to be repealed in 2010. If Congress fails to act in 2011, the estate tax will revert back to a whopping 55% rate, with an exemption of only $1 million.

With estate tax changes likely in the near future, estate planning is once again at the forefront of the public consciousness. For information on this and other probate issues, contact an Austin probate lawyer from Slater & Kennon, LLP at 512-472-2431 today.