Required

Another New Estate Tax Proposal – Woodstock, Georgia Elder Law Attorney

In the past few years politicians have proposed more changes to the estate tax than most people can keep up with. Recently, another Senator announced that he would soon be introducing yet another proposal. This one is interesting because the Senator does not mask what his true intent is in making the proposal.

Most of the time when politicians announce that they are seeking increases in the estate tax, they state that they are doing so to make the wealthy pay their fair share of taxes or something similar. Senator Bernie Sanders, however, has announced that he is seeking an increase in the estate tax for the specific purpose of dealing with wealth inequality in the United States. The Senator wrote about it himself in The Huffington Post. The article is titled A Progressive Estate Tax.”

As the name of the article suggests, the proposal is for a progressive estate tax. The more wealth an estate has, the higher the rate of tax paid on the estate. For example, in the proposal estates valued between $3.5 million and $10 million would pay a 40 percent estate tax while estates valued between $10 million and $50 million would pay a 50 percent estate tax. The full details are in the article.

Given the current political climate in Washington, it is unlikely that Senator Sander’s proposal will be passed, if it even makes it to a vote. However, it is important to note that legislators do propose changes to the estate tax and these proposals do sometimes pass. For this reason it is important to stay in touch with your elder law or estate planning attorney to make sure that your plan is up to date.

Reference: The Huffington Post (September 8, 2014) A Progressive Estate Tax

Hear From Our Clients
tes-prev
tes-next

I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

- Charlotte

The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

- Kerri

Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.

- Pierce

Josh Nelson, and his staff, have been amazingly helpful to our family. The ins and outs of nursing homes, the rules and regulations that govern Medicare and Medicaid are daunting and the folks at Nelson Elder Care Law have been informative, responsive, and above all, empathetic. I cannot emphasize enough how their service has taken a weight off of our shoulders especially during a world pandemic that has targeted nursing homes across our country. I highly recommend retaining Josh and his firm!

- Marcia

I had a simple legal question to them that I needed answered and they very helpful in giving me the information I needed. I highly recommend them and will reach out to them if I need more advice or assistance. Thank you for taking your time to just answer a couple of questions I had!

- Ben