So, should we expect lots of falls, accidental asphyxiations, and other easily-arrangeable accidents for elderly plutocrats in the coming year?

Wish I inherited 9 billion, maybe my kids will. Abolish the Death Tax

That makes no sense at all. Your telling me someone that makes 9 billion could have 405 million dollars takin from them just to go to our government. Hell no, some lawyer out there would be able to cut that 45% in half AT Least!

Even worse Matt, your math is wrong it would be $4.05 billion that the government would get not $405 million.

So, is this a for sure thing? When is it an absolute? If an estate is disbursed, sans taxes, could they come back to the heirs in January 2011 retroactively? How long does Congress have to make this decesion?

It's really amazing to me how little the general public knows about this issue, but, in fairness, I deal with it on a daily basis. Jay - you are be off base with your absolute statement that "the taxman cannot take anything from your estate."

First and foremost, for Mrylanders, is the Maryland estate tax, which is a tax on estates with a value of more than $1 Million, including home, life insurance, retirement benefits. The Md estate tax is a graduated tax that maximizes at 16% on estate's over $10 Million (admittedly, less than 1% of the U.S. population has an issue with this). So dying in 2010 won't keep every revenuer out of your estate's pocket.

The Second point, which is more in line with you post, is that although there is no Federal Estate tax this year (a bill to extend the federal estate tax at 2009 levels before its expiration this year passed the House, but was allowed to language in commitee behind some kind of Health Care Legislation (sarcasm intended)), a number of Senators are on record as saying they will retroactively pass estate tax legislation that will impose an estate tax on estates for decedent's who deid in 2010. There are some constitutional questions with such retroactive legislation, but it would not be without precedent. The key date for all of this is September 1, 2010, which is the day that federal estate tax returns are due for people who died on January 1, 2010. The significance of this Texas billionaire's death is that his estate will have the wealth necessary to challenge any attempt by the govt/. to impose such a retroactive estate tax. Frankly, regardless of how you feel about the federal estate tax, a Supreme Court (this issue has as good as chance of any of going all the way to the top) case holding that Congress cannot pass retroactive tax legislation may have the desired effec of causing Washington pols to stop politicking and vacationing and actually get their jobs done on time - providing us with a little predictability in an otherwise chaotic world!

To the posters who assumed a lawyer could help reduce the effective rate of the estate tax - you're absolutely correct, but people have to engage in planning if they want to take advantage of those opportunities.

I'm not really seeing the big deal period. Ever hear of that play, "You Can't Take it with You"? In the example discribed with the energy tycoon, I am sure his heirs would have done just fine with 5 Billion dollars as opposed to 9 Billion! Share the wealth a little bit! Have some of your money go back to the government so the money can be spread around; allow for a few more social programs or a few more federal grants to be created for educational purposes.
Put it this way: even if the goverment had taxed him, multiple generations of his family line would be set for life! Unless, it is necessary to live disgustingly luxurious lives... "Mommy! I want a Diamond encrusted iPod!" (...Yes, there are Diamond encrusted iPods...)

Heaven?!?!? If you have billions, it is more likely that you have done things that will only qualify you for other places than heaven.