Phaseout of Estate Tax Has Little Effect on Most Plans.In June June: see month. , President Bush signed a tax-cut package that included gradual The Gradual (Latin: graduale, sometimes called the Grail) is a chant in the extraordinary form of the Roman Catholic Mass, sung after the reading or singing of the Epistle and before the Alleluia, or, during penitential seasons, before the Tract. reduction of the estate tax until it disappears altogether in 2010. But according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. early results of the 2001 Phoenix Wealth Management Survey, very few high-net-worth individuals are contemplating changes to their estate plans. Conducted by Harris Interactive Harris Interactive (NASDAQ: HPOL) is an American market research company that specializes in public opinion research using both telephone and surveys on online panels. The company is the product of a 1996 merger between the Gordon S. Black Company and Louis Harris & Associates. for The Phoenix Cos., the survey found that 70% of high-net-worth individuals contacted closely followed the estate-tax discussions last spring, and that fewer than 5% of this group anticipates dropping life insurance, terminating trusts, decreasing gifts to children and charities, or changing business succession plans. High net worth was defined as having at least $1 million in assets minus debt and excluding primary residence. In addition, 30% of those who do not have an estate plan said they are considering creating one or more trusts. "The debate may have made this group more aware of the need to put a plan in place," said Walter Wal·ter , Bruno 1876-1962. German conductor noted for his interpretations of Mozart and Mahler. Noun 1. Walter - German conductor (1876-1962) Bruno Walter Zultowski, senior vice president of marketing for Phoenix Life Insurance Co., Hartford Hartford, city (1990 pop. 139,739), state capital, Hartford co., central Conn., on the west bank of the Connecticut River; settled as Newtown 1635–36 on the site of a Dutch trading post (1633; abandoned 1654), inc. 1784. , Conn. About 64% of those surveyed said the new legislation would decrease their estate taxes, 27% said it would not change their tax burden, and 3% said their taxes would go up. Some 47% plan to consult a financial adviser about the implications of the new law; 34% will not; and 19% were unsure. Caution about keeping estate plans in place may be related to a provision of the law that in 2011 fully reinstates estate taxes as they exist this year, even though Congress may fall under pressure to change the law before 2010. |
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