STEINBRENNER, THE OWNER OF THE YANKEES, SAVES MILLIONS IN TAXES

You've probably heard George Steinbrenner, the controversial owner of the the New York Yankees, died last week. Good tax planning on his part. As we all know, the estate tax itself "expired" this year. Under current law, it roars back on January 2011 with a $1 million tax-free "unified credit" and 55% top rate. Steinbrenner is estimated to have been worth $1.1 billion, which suggests that his estate will avoid $600 million in tax.