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C.
Douglas Welty Attorney at Law A Professional Corporation |
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Estate Planning, Wills, Trusts and Probate Law Resources for Lawyers
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Welcome! My estate planning pages are updated regularly to correspond with estate, trust, probate and tax law changes and new court decisions. They reflect revised estate and gift tax exemptions, deductions, and allowances for 2008 under the continuing provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 and subsequent changes in federal and Virginia tax law. Death Tax Developments. During the summer of 2006, the most recent bid in the United States Senate to join the House of Representatives in permanently repealing the federal estate tax again failed to pass. There were 57 votes for repeal in 2006, three too few to overcome a filibuster, and the same number that voted to reduce (but not repeal) federal death taxes in August 2006. Unfortunately, therefore, estate planning continues to be more complicated than both attorneys and clients would prefer, and our current, more liberal Congress does not, so far, appear to favor estate and gift tax repeal, especially with the 2008 election just around the corner. The turmoil on Wall Street does not appear to have altered either presidential candidate's desire to keep the death tax around in some form. But. . . Hurray for medium-sized victories! On
our side of the Potomac, the 16% Virginia
estate tax finally has been eliminated, and is not levied upon the
estates of people dying on or after July 1, 2007. Kudos is due to Virginians
for Death Tax Repeal, among others. Please browse this site, then contact me by telephone, fax, email, or snail mail at my Arlington, Virginia offices. C. Douglas Welty, P.C. Phone 703-276-0114 (you'll reach
voicemail after business hours, or if lines are busy) Email: info@weltyblair.com |
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