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In 2009, the Federal estate
tax exemption rose to $3.5 million per person (in effect
$7 million per married couple). The top Federal
estate tax rate is 45%. Under current law, the
Federal estate and generation-skipping transfer taxes
(but not the gift tax) are repealed in 2010, but come
back in 2011 with a $1 million exemption and a 55% top
rate.
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