Deathbed Opportunities

Estate planners have new opportunities to save taxes for their clients using deathbed planning techniques in states that have decoupled their estate taxes from the federal estate tax. Before the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), a credit was allowed in the computation of the federal estate tax for death taxes paid to any state, subject to the limitations set forth

Estate planners have new opportunities to save taxes for their clients using deathbed planning techniques in states that have decoupled their estate taxes from the federal estate tax.

Before the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), a credit was allowed in the computation of the federal estate tax for death taxes paid to any state, subject to the limitations set forth in Internal Revenue Code Section 2011. (See “The Past,” p. 26.) Many states limited thei

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