From time-to-time, articles by our colleagues who practice other types of law that may not directly affect business and transactions, have information on topics that are so important and timely for all of our readers that we post them here. The comments below from Bruce L. Mertens, an experienced trust and estate attorney at Sands Anderson Marks & Miller, include estate tax information that is so relevant and timely that we thought our readers should have it to help them plan for the tax uncertainties that lie ahead. We trust you’ll find it very thorough and quite helpful.

Estate Tax and Possible Changes in 2010

Congress has done the unthinkable and now we are in a year with no estate tax. Everyone expects Congress will “patch” the current law by extending last year’s rules – taxing estates exceeding $3,500,000 – through the end of this year and making that change apply retroactively to January 1. But then, everyone expected Congress to extend last year’s rules before last year ended.

So, what does this mean for you?