I ran across this political morsel in – of all places – Tuesday Morning Quarterback on ESPN.com:
Today the first $2 million of an estate is exempt from taxation, meaning only about one estate in 100 is taxed. In 2009 the exemption rises to $3.5 million and fewer estates will be taxed. In 2010 there will be no estate tax. Then in 2011 the tax would return with a lower threshold than today, imposed on any estate above $1 million.
If the law stands as is, it will create some powerful moral, ethical, and financial dilemmas, particularly in the latter months of 2010.