NAPLES, Fla.--(BUSINESS WIRE)--In a bold move to help the nation’s wealthiest families, estate tax expert and author E. Michael Kilbourn has released Disinherit the IRS: Don’t Die Until You’ve Read This Book, 2014 Edition. The 344-page book reveals new tactics to avoid excessive taxation plus the simple, legal ways to avoid so-called “death taxes” and the steps individuals must take to protect their children, grandchildren and future heirs from predators, claims from lawsuits and divorce. The book includes a history of estate taxes and over 60 charts, graphs, illustrations and tables, as well as helpful resources like case studies and comprehensive depictions of many complex wealth preservation concepts. Available for purchase through major booksellers on February 15, 2014, Disinherit the IRS is published by Brendan Kelly Publishing, Inc.
“I couldn’t just let the book sit on the shelf the way it was written,” says Kilbourn, a chartered financial consultant who is licensed in over 20 states. “Things have changed and it’s more important than ever to understand how to protect and grow what wealth survived so it can sustain and impact future generations.”
Kilbourn’s previous versions of Disinherit the IRS (2001, 2003) detailed the impact of the 2001 Economic Growth and Tax Relief Reconciliation Act (EGTRRA) on estate planning. The 2014 edition takes a fresh look at the role of estate planning in wealth preservation since the sunset on the law in 2010. The book’s content was ratified with legal insight from contributing editor and estate planning attorney Brad A. Galbraith.
“There is no such thing as tax elimination; only tax substitution or tax modification,” said Kilbourn. “Since I made that prediction 10 years ago, we’ve seen individual states try to recoup the progressive revenue loss by enacting their own state estate tax and, since the federal government did not eliminate it, for 2014, the federal estate tax rate is now at 40 percent for estates over $5.34 million.”
A leading authority on estate planning, Kilbourn’s reputation was built on studying and testing a multitude of financial products and outcomes based on performance and return as well as mastering the art of estate tax analysis. For this reason, over 75 percent of the book’s original content was updated to reflect new changes in the estate planning process.