August 11, 2009 05:34 AM UTC

I'm worried about my grandmother.

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• by: MADCO

She’s 95 years old – fit as can be, according to her doctor.  But she was born in an era when things were very different in the world.

And since my grandfather died a few years ago she’s been on her own. She’s a social person, attends several places regularly including church where she has friends and a social network. But the family is all scattered and none of us are geographically close to her.  After a lifetime of caution, thrift and hard work, she’s financially sound.

But that’s part of the problem.  She inherited from both her parents in a way that has given her great net worth.  Well into the tens of millions depending on the market for like assets at any given time.

She’s never been quite sure how to handle that  potential wealth. Nor whom to trust for advice or counsel.  Skeptical of paying lawyers or CPAs (she does her own books) and she’s afraid of making a mistake and unnecessarily giving away part of the wealth.  And while she occasionally has discussed income, cap gains and estate taxes like she was contemplating positive action to plan for the transfer of her assets, she has no estate plan. My father and his siblings split equally.

And now here comes 2010- where the estate tax exclusion goes to unlimited. I.e., there is no estate tax next year. And in 2011 it goes back to what it was a few years ago.  

My grandmother is Catholic enough to believe in sin, and likely believes suicide is immoral.  Bu she was farmer’s daughter enough to control her fertility and teach her kids to do the same.

So I’m worried.  Was this the Bush/Cheney R Congress secret plot all along to get seniors to off themselves? Wait until 2010 and beat the estate tax – but wait too long and your estate gets hammered again 2011?  Or is this some vast, bi-partisan plot to motivate seniors to find the exit?

We gotta fix the estate tax now- in this Congress.  I’ve written to Coffman- he didn’t reply.  I’ll try again after the recess.