Professionally Speaking

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Posted February 3, 2010
Recording time: 12:54

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Unusual Risks Surround Estate Tax Strategies for 2010

As of January 1, 2010, the federal estate tax and the generation-skipping transfer tax disappeared – but there is considerable confusion regarding the future of these taxes. Congress may alter the current situation sometime during the year, and new rules could be imposed retroactively. In 2011, the old 2001 limits are set to reappear, imposing a $1 million exemption limit and a 55% gift tax rate. But investors should consider new estate planning and gift-giving strategies very carefully, always with legal assistance and in full knowledge that retroactive changes could occur. It is also important to check the formula clauses that attorneys have routinely included in estate plans to determine inheritances. Such clauses assumed the law would always impose limits, so they may not operate as expected in 2010, says Dave Ness, president of Raymond James Trust, in this edition of Professionally Speaking, hosted by Larry Pugliese.

If you would like to discuss the content of this edition of Professionally Speaking, or if you have questions about your portfolio or the markets, please contact a Raymond James financial advisor.

All expressions of opinion reflect the judgment of the Equity Research Department of Raymond James & Associates at this time and are subject to change. Information has been obtained from sources considered reliable, but we do not guarantee that the material presented is accurate or that it provides a complete description of the securities, markets or developments mentioned. Other Raymond James departments may have information that is not available to the Equity Research Department about companies mentioned. We may, from time to time, have a position in the securities mentioned and may execute transactions that may not be consistent with this presentation's conclusions. We may perform investment banking or other services for, or solicit investment banking business from, any company mentioned. Investments mentioned are subject to availability and market conditions. All yields represent past performance and may not be indicative of future results. Raymond James & Associates, Raymond James Financial Services and Raymond James Ltd. are wholly-owned subsidiaries of Raymond James Financial.