Attorney David J. Correira was recently interviewed for two seperate articles that appeared in Massachusetts Lawyers Weekly and Rhode Island Lawyers Weekly about his predictions for the future, following Congress’ failure to extend the federal estate tax beyond 2009.
The articles spoke with estate planning practitioners about how they are advising clients in this uncertain tax environment. Attorney Correira was quoted as saying, “Anyone who has been following the politics of the estate tax should be fairly certain that it is more likely than not that the level of tax in place this year is going to be the same as 2009, and then indefinitely after that. So I’m not operating, at least for the moment, with the presumption that the estate tax has been repealed at the federal level.”
He continued, “The question is whether or not something else gets tossed in . . . More than likely, because of all the discussion about the cost of the wars and health care, it just doesn’t seem that Congress is going to be focused on eliminating the estate tax.”