Why is there a key difference between estate tax in 2012 and 2013?
The current Estate Tax system is set to expire in 2013. Next year, an individual will have an estate and gift tax exemption of $1,000,000. A couple does not have double that amount unless they properly plan their estate. The tax rate also changes. Amounts greater than $1,000,000 are taxed up to a 55% marginal rate.
Speak to an Experienced Estate Tax Attorney Today
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified estate tax lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local estate tax attorney to discuss your specific legal situation.
Additional Estate Tax Articles
- What is the death tax and how does it affect estate planning?
- What is the estate tax exemption and how is it calculated?
- What is gift tax and how does it apply to making lifetime gifts?
- Are Non-Resident and Resident Aliens treated the same as US residents for the purposes of transfer taxes?
- Why should I plan my estate in 2012?
- Do I need an attorney to help with my estate planning?