The new Economic Growth and Tax Relief and Reconciliation Act of 2001, is full of surprises. If you die and leave stock to your children in 2010 there will be no estate tax, but they will have to prove what your basis in that stock is. If you bought AT&T stock in 1968, you can imagine what a nightmare that will be for them to reconstruct what your basis is in the collection of stocks that spun off from your one purchase. The same is true for your home and all other assets you have wisely invested in for the long term. If you plan to live at least to 2010, you should make an inventory of your estate now, listing all of your assets, when you acquired them, and how much you paid for them, i.e., your basis. Also add in any additional money spent on improving the investment. If you do not have, or cannot find, records, give a best-guess estimate, sign and date it. While the IRS may not accept such proof, if it is dated today, it will carry much more weight in 2010. This information will also be very useful if you decide to liquidate any of these assets during your lifetime.