Thursday, July 8, 2010
The estate tax is controversial and the fact that it is not settled is making it to the opinion page of the nation's leading newspapers including the Los Angeles Times. This article by Boston law professor Ray Madoff entitled "Inherited Wealth Shouldn't Get A Free Pass On Taxes" argues that the wealthy should pay estate taxes. As estate lawyers, we seek to minimize all taxes to our clients and plan for the avoidance of taxes.
Nevertheless, it is important to keep up with the issues even when we may disagree with the views expressed in this article. Professor Madoff does not address the fact that taxes have already been paid on the income earned by the wealthy but this is his opinion on inherited wealth passing to the next generation. The article addresses the amount of money generated by the estate tax. Opinions such as this one and the current federal budget crisis are some of the reasons why we believe that Congress will act and pass an estate tax within the next year.
Inherited wealth shouldn't get a free pass on taxes - latimes.com
Posted by Henry (Hank) J. Morevec III. With respect to tax and estate planning, Hank Moravec has over 20 years' experience as one of the best Los Angeles estate and trust attorneys and is available should you need legal advice regarding your own or a family member's situation.
For a free 30 minute consultation, you can e-mail Hank Moravec at firstname.lastname@example.org or call him at (626) 793-3210 to request a consultation. The firm website is http://www.moravecslaw.com/. The firm is located at 2233 Huntington Drive, Suite 17, San Marino, California 91108. There is ample free parking adjacent to the firm's office.