For decades, estate planning has been dominated by techniques designed to minimize a confiscatory federal estate tax. But higher exemption levels created by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA)1 have significantly reduced the number of Americans subject to the federal estate tax. Only about 2 percent of all estates were expected to be taxable in 2004; in 2009, it's expected to drop to 0.3 percent.2
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