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See link inside for ABA Guide to Wills and Estates....
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Posted by TKC (more from TKC) on Wed, 1 Feb 2006 06:45:18 Share Post by Email
In Reply to: OT: Power of Attorney question, Jimbo, Tue, 31 Jan 2006 12:01:54
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very useful information before going to see a lawyer.

As suggested by many, get a lawyer who specializes in that area and not a do all type lawyer. Depending on the state you live in, laws differ, and if someone owns properties in different states, things can get complicated.

If you are talking about an estate somewhere upward of $2M, the tax on the excess can be as high as 45%. The Federal Exemption is $2M for 2006 to 2008 and $3.5M in 2009. The top rate for 2010 would be 35% and somewhat certain beyond 2010 pending whatever.

Depending on where you are a $2M isn't that big a sum these days, if someone has bought a house at a prime location, that alone can worth $1M+.

While we're on this topic, I urge anyone who has a family or significant other to visit this site.

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American Bar Association Guide

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