Chris Zander Quoted on Estate Planning in the New York Times

January 9, 2010

Uncertainty over the impact of estate taxes in 2010 will necessitate greater planning, Chris Zander, wealth advisor at Evercore Wealth Management, told The New York Times. For example, heirs may be responsible for capital gains taxes on any appreciated property when they sell it, forcing them to go back through decades of brokerage statements to calculate the difference between the value of something today and its original price.

Someone with $20 million thought the balance was going to the surviving spouse, after the $3.5 million exemption," said Zander. "Now there's a mismatch. It's the same formula, but it's based on a different tax law regime."

He added: "This impacts a lot of people. It's not just the super-rich."