Death of a Billionaire in 2010

Posted on June 10, 2010 by Gary A. Phillips

Attached is an article from Tuesday’s New York Times, which details the story of Dan L. Duncan, a Texas billionaire, who died in March 2010, and as a result of the 2010 federal estate tax repeal, will be able to pass his multi-billion dollar fortune to his family estate and generation-skipping tax free. This is the type of story that may trigger a strong reaction from Congress to not only finally move on estate tax legislation, but potentially retroactively apply it.

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