Published Tuesday, October 24, 2017 at: 7:00 AM EDT
As the drumbeat for tax reform grows louder, the chances that the federal estate tax will be repealed increase. Although there are no guarantees, especially in the current political environment, a repeal taking effect by 2018 is a real possibility. But this doesn't mean estate tax planning should be abandoned—far from it. In fact, if history is any indication, an outright estate tax repeal isn't likely to be permanent.Take the example of the monumental tax legislation enacted in 2001, the Economic Growth and Tax Relief Reconciliation Act (EGTRRA). Under EGGTRA, among other related changes, the estate tax rate was gradually reduced...
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