Back in late January and early February I reported on the efforts of multiple states to fix a possible glitch in the estates plans of millions of Americans created by repeal of the federal estate tax on January 1, 2010:
- Jan. 27, 2010 - Virginia Legislation Attempts to Fix Glitch Created by Federal Estate Tax Repeal
- Feb. 3, 2010 - Maryland Legislation in the Works to Fix Glitch Created by Federal Estate Tax Repeal
- Feb. 5, 2010 - Other States Jump on Bandwagon to Fix Glitch Created by Repeal of Federal Estate Tax
To date it appears that at least four states have actually passed laws designed to put the estate plans of people who die in 2010 in the same position as if they had died on December 31, 2009: Indiana, Maryland, Virginia, and Wisconsin. Note that all of these laws have been written to become void if Congress acts to bring the federal estate tax back in 2010.
If anyone knows of any other states out there that have enacted similar legislation, let me know.
Thanks to Indianapolis estate planning attorney Sean J. Fahey of Hall Render Killian Heath & Lyman, P.C. for letting me know about the passing of the Indiana law.
Update: In addition to the four states listed above, Nebraska, Utah and Washington have also enacted similar laws, while Florida recently enacted a law that provides for judicial intervention instead of applying the federal law that was in effect on December 31, 2009.
- Florida Statute 733.1051
- Indiana Code Sections 29-1-6-1 and 30-4-2.1-13
- Maryland Code Section 11-110
- Nebraska LB 1047
- Utah Code Section 75-3-917
- Code of Virginia Section 64.1-62.4
- Washington SSB 6831
- Wisconsin Code Section 854.30
- Florida Lawmakers Take a Different Approach to Fixing Glitch Created by Federal Estate Tax Repeal
- What is the Federal Estate Tax?
- Overview of Current Federal Estate Tax Laws
- What is the Future of the Federal Estate Tax?
- Estate Tax Repeal Update - Back to Square One?