Almost no one will have to worry about paying the estate tax under the tax legislation just approved by Congress. By one estimate, from Alan Rothschild, the chairman of the American Bar Association’s real property, trust and estate law section, less than one-half of 1 percent of people who die in 2011 will be hit by the estate tax. In contrast, 10.5 percent paid the estate tax in 1977.

And even for the very few who will be subject to the tax, the increase in the gift tax exemption will allow them to give their heirs tens of millions of dollars before the estate tax even comes into play. “I think people will be seizing the opportunity for next year,” said Carol Kroch, head of wealth and financial planning at Wilmington Trust.

The only caveat for the wealthy is that the tax compromise reached by Republican leaders and President Obama is set to expire in two years and revert to much lower exemption levels and a higher tax rate.

“It seems like to me we’re just setting ourselves up to repeat 2009 and 2010 all over again,” Mr. Rothschild said. “That’s the most frustrating part to me.”