When George Bush pushed through his tax cuts he eliminated the Estate Tax for 2010 and 2010 alone. No one ever thought it would happen but here it is.
This would usually be cause for celebration. Unfortunately there is no step up in basis for the people who inherit from those who pass in 2010.
Also in 2011 the Estate Tax comes back and the lower personal exemption of $1,000,000 and the higher tax rate from 2001 are back as well.