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This article on estate taxes came across my email inbox today, from WSJ:

Under current laws in effect until the end of this year, the size of the exemption is $3.5 million per individual or up to $7 million per couple. The tax is slated to disappear entirely on Jan 1.

But estate planning in 2010 will be complicated by a new twist: a complex tax on capital gains, levied at death, that will affect a broader swath of taxpayers. The estate tax is scheduled to return in 2011 at a 55% rate with an exemption of slightly more than $1 million.

The looming lapse of the estate tax is presenting some families with unprecedented ethical quandaries.

“I have two clients on life support, and the families are struggling with whether to continue heroic measures for a few more days,” says Joshua Rubenstein, a lawyer with Katten Muchin Rosenman LLP in New York. “Do they want to live for the rest of their lives having made serious medical decisions based on estate-tax law?”

Let’s change the question a bit.  Can we calculate the price of another day of life now?  How much estate cash is at risk by expiring before Jan 1?   Probably could come up with a dollar figure for the estate holder and the medical team keeping folks alive.

Where does all this fit in some bigger sense of human nature?

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