Yahoo! Finance had this article about Dan L. Duncan who passed away in March 2010. Because there are no estate taxes for those who pass away in 2010, his full net worth has been passed on to his wife and children. In any other year, his estate (estimated at $9 billion) would have had to pay up to 45 percent in taxes.
About 5,500 estates are affected each year. The article reports that Congress is working to reinstate the estate tax for 2010, but up for debate is whether it can retroactively affect those who have passed before it has been reinstated.
Click here to read more on Yahoo! Finance.
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