Copyright 2001, Marc S. Weissman
Certified Specialist: Estate Planning, Trust and Probate Law
Certified by the California Board of Legal Specialization of The State Bar of California
Weiss & Weissman, San Francisco, California
(650) 574-0362
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After the new 2001 Tax Law, do I need a Trust?

There are several reasons to use a Trust. Taxes are only 1 reason.

If the tax free amount were unlimited and unlikely to change, we can ignore the tax benefits of a Trust. However, the one thing we know about this new law is that it will change or it reverts to the 2000 law on January 1, 2011. So we need to continue to use Trusts until the death taxes are dead for good.

Die in:Tax Free Amount
1997$600,000
1998$625,000
1999$650,000
2000
2001		$675,000
2002
2003		$1,000,000
2004
2005		$1,500,000
2006
2007
2008		$2,000,000
2009$3,500,000
2010NO TAX IF YOU DIE IN 2010
Watch out for your kids!
2011
AND LATER		$1,000,000 - We're back to the old law!

The other benefits of a Trust continue, besides tax benefits.

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