Trust Question

What is the name of your state (only U.S. law)? California.
Father-In Law had personal revocableTrust. He passed away 7/31//09. His trust contained a commercial building that has been left to my wife. We are preparing his final Estate Tax Return. If we leave the property in the trust for the next 5 years and then take the property in that trust and put it into a trust that we create for my wife would that change the Estate Tax in any way? Currently it has a value of less than 2 Million Dollars which is under the 2Million Dollar limit for 2008.
Thanks For Your Help In Advance, Al

since 7/31/09 has not occurred yet, i assume you mean 2008.

i will also assume that your fil's trust is an individual trust, with him as sole trustor.

the estate tax will be looked upon as of the assets he had on the date of his death.

what you do in the future with any asset has no bearing on the estate tax on your fil.