In 2009 the Federal Estate Tax Exclusion was $3.5 million. In 2010 there is no Federal Estate Exclusion. What does this mean? It doesn’t matter how large your estate is, there will be no federal estate tax (often referred to as the death tax) if you die in 2010. In 2009 there was a step [...]
Tag Archives: federal estate tax
August 19, 2009
What is a Credit Shelter Trust?
This is probably the most popular type of arrangement for married couples with substantial estates. It provides that at the death of the first spouse, his/her estate will be split into two parts. One part, equal to the estate tax exemption amount ($3,500,000 in 2009) would go into a Trust so it would not be [...]
August 4, 2008
The Basics of the Federal Estate Tax
At first, most clients that meet with me think that they do not have a large enough Estate to be concerned about it being taxed when they pass away. When I have completed asking them questions they are amazed at the true value of their Estate. The reality is that many people need to start planning [...]