The latest transfer-tax schedule is good news for grantors -- though it is subject to change.

Year	Amount Exempted from Estate Taxes	Maximum Estate-Tax Rate
2004-2005	$1,500,000	48% -- 47%
2006-2008	$2,000,000	46% -- 45% -- 45%
2009	$3,500,000	45%
2010	Unlimited (No increase in basis)	0
2011	$1,000,000	55%

Remember, the prevailing tax code is always a moving target: What Congress giveth, they taketh away. There is no guarantee how long the current tax code will be in force. So basing a wealth-transfer strategy on timing the tax code is poor policy. Implementing a strategy now or sometime in the future -- increases the chances that a grantor will be able to transfer a significant amount of wealth at little or no cost. After creation of a Grantor Revocable Trust to protect their exemption, a Grantor should begin with two questions that touch upon taxes, but are focused on strategic issues -- how much can I gift and which gifting vehicles are best suited to my objectives?