Colorado Probate Blog - Wade Ash Woods Hill & Farley, P.C.

Don’t Defer Planning Your Estate Because The Estate Tax Might Be Repealed

In 2001, when the estate tax exemption was $675,000 and George W. Bush was President, Congress “repealed” the estate tax. But the repeal was phased in over ten years and was then scheduled to last for only one year. Instead of actual repeal, what we got, under President Obama, was a reinstated estate tax with a much higher exemption of $5 million, indexed for inflation. The Republican party now controls both houses of Congress as well as the White House, and we are again hearing calls for repeal of the estate tax.

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Is It Time to Update Your Estate Plan?

We recommend that our clients review their estate plan every few years to make sure that it remains current. Here is a list of “life events” and other things that should trigger a review of your estate plan.

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