Dying in 2010 to Avoid Estate Taxes
A member of the House of Representatives from Wyoming has been told by some of her constituents that they are taking steps to die in 2010. Apparently, these individuals are willing to die early to make sure that their children will not pay estate taxes.These individuals are planning to discontinue taking dialysis and other life-extending medical treatments to increase the chance that their deaths will occur in 2010.
When the 2010 estate tax repeal was passed in 2001, it was dubbed by some as the “Throw Momma from the Train Act” due to the huge estate tax increase that will be incurred by the estates of wealthy individuals who die after 2010. There is still hope that the tax increase will be delayed or moderated. Unless and until the law is fixed, you should decline any invitations to take a year-end train ride or cruise with your children.
