How can I reduce my Estate Tax upon my death?
Federal Estate Taxes are only charged against Estates with assets exceeding $1 million in value (2002 and 2003). If you think your Estate will exceed $1 million at the time of your death (or $2 million if you are married), the following general tips can be used to reduce death (estate) taxes by lowering the value of your Estate at the time of your death. This amount that is exempt from Federal Estate Tax increases to 1.5 million in 2004 and 2005 (3 million if you are married); 2 million in 2006 through 2008 (4 million if you are married); 3.5 million in 2009 (7 million if you are married) and then in 2010 there is no federal estate tax. However in 2011 the Federal Estate Tax is returned to the 2002 level.
Estate Planning Sub-categories
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Estate Planning
Estate Taxes Guardianship Power of Attorney |
Probate
Trusts Wills Durable Power Of Attorney |
