Family Sues Over Retroactive Estate Tax Legislation

On May 4, the Connecticut legislature retroactively increased the state’s estate tax by including all estates worth more than $2 million ($1.5 million below the previous threshold). Eleven days prior to this new legislation, wealthy developer Monty Blakeman passed away, leaving behind a multi-million dollar estate.

As a result of the retroactive decrease in the estate tax threshold, Blakeman’s estate had an additional tax bill of over $100,000. Blakeman’s estate filed suit against Connecticut, alleging an unconstitutional taking of the estate property.

See Christine Keating, Family Sues State Over Fairness of Retroactive Estate-Tax Hike, Hartford Courant, Oct. 2, 2011.

Special thanks to Jim Hillhouse (WealthCounsel) and Patrick Thiessen (attorney, Denver, CO) for bringing this article to my attention.