Best Lawyers®, the oldest and most respected peer-review publication in the legal profession, has named Elizabeth High the Portland, Maine Trusts and Estates Lawyer of the Year for 2018.
According to Best Lawyers, the lawyers receiving this honor have received particularly high ratings in their surveys by earning a high level of respect among their peers for their abilities, professionalism, and integrity. Only a single lawyer in each specialty in each community is honored as the “Lawyer of the Year.” Read More
The federal estate tax system has undergone significant changes over the past 20 years, but the next 20 months may see even more significant change. When George W. Bush was elected in 2000, estates over $675,000 were subject to estate tax and the top marginal rate was 55%. From 2001 to 2010, the exemptions went up and the rates came down, culminating in 2010 when, for one year, there was no estate tax. In December 2010, Congress re-enacted the estate tax with a $5 million exemption (indexed for inflation) and a flat rate of 35%. Presently, there is a flat, 40%, federal estate tax on estates over $5,490,000 (an 813% increase in the exemption from 2000).