Attorneys

Federal Estate Taxes are only charged against Estates with net values in excess of the amount set by the law in place at the time of the person's death.  The values change from time to time.  For example, the amount that exempt from Federal Estate Tax  in 2004-2005 was $1.5 million ($3 million if married); $2 million in 2006 through 2008 ($4 million if married); $3.5 million in 2009 ($7 million if married) and then in 2010 there is scheduled not to be any federal estate tax. 

If you think your Estate will exceed whatever the maximum net estate value is at the time of your death, then the assistance of a qualified estate planning attorney is highly recommended.  There may be ways, for example, to reduce the value of your estate at death by making gifts throughout your lifetime, transferring assets to a spouse and taking advantage of any marital deductions, and other wealth transfer mechanisms.  These are often complicated matters requiring the assistance of legal counsel. 

Estate Planning Sub-categories