“Most people don’t realize that we have two systems of taxation. One taxes income as it’s earned; the other taxes wealth as it changes hands. During a person’s lifetime, we call this transfer tax the gift tax. At his or her death, we call it the estate tax, and it could carry significant tax consequences [...]

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Trusts & Estates Prof Blog Writes:

“Under current law, there will be no estate tax for individuals who die in 2010. Accordingly, some wealthy individuals may plan for their demise to occur during 2010.

The following is from Stephen Moore, Death by Taxes: Seniors May Plan Their Demises to Maximize Their Bequests, Wall St. J., [...]

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L.A. Times - Personal Finance

“You may not like paying federal taxes, but chances are you’re not going to renounce your U.S. citizenship to get out of the obligation.
That’s probably wise, especially because a tax bill expected to be signed into law this week contains a provision designed to crack down on the roughly 500 rich [...]

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