Estate tax laws are transitory and will likely change in the future.  The current federal estate tax exemption is $2,000,000 and it is scheduled to increase to $3,500,000 in 2009.  There is an unlimited exemption amount for one year - 2010, then the exemption is scheduled to be reduced to $1,000,000 in 2011 but there has been a recent proposal to keep the exemption at $3,500,000.  Despite the transitory nature of the estate tax law, a well-structured estate plan requires certain essential elements.

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