Tuesday, July 13, 2010

George Steinbrenner’s final win: The estate tax?

By now most of you have heard that George Steinbrenner passed away this morning at age 80. The silver lining in Steinbrenner’s death is that the estate tax remains in limbo, and his $1.1 billion fortune (Forbes’ latest ranking) could possibly pass to his heirs tax free.

Steinbrenner is the third billionaire to pass away this year – Walter Shorenstein and Dan Duncan are the others – and if the family is as shrewd about their money as they are about their baseball team, they will likely fight any potential retroactive provisions in the new estate tax.

Posted via email from The Modern Planner

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