Estate Tax reform coming soon… or is it?

What can accountants and financial advisors tell their clients to expect from Congress with respect to Estate Tax reform? According to a recent article in Trusts & Estates magazine (available at http://trustsandestates.com/wealth_watch/estate-tax-reform1028/), the answer may surprise you. Here are some of the highlights:

There is an increasing possibility that Congress just may do nothing and send us back to the 2001 scenario. Advisors should consider taking immediate action to plan properly for that, and other possible scenarios. Indeed, we have to advise them in 2009 to take into account any number of possible scenarios.

“Everyone” predicted that by 2009 we’d have seen an amendment to the estate tax law. So far, “everyone” was wrong (although, admittedly, there are still almost 2 months left.)