Estate Tax Planning for Persons with Health Challenges

Because the federal estate tax is scheduled to be reinstated beginning in 2011 at a hefty 55 percent for individuals with assets exceeding $1,000,000, many people will have significant exposure to estate tax liability. The use of private annuities and self canceling installment notes in an intra-family exchange of assets are ways to reduce or even eliminate such liability, particularly for wealthy individuals whose health has deteriorated.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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