Estate Tax

July 16th, 2009 |

Author: 1203Broadway

The estate tax is a tax imposed on the property and assets that an individual leaves behind or transfers at death. Under 2013 laws, the first $5.25 million of the estate is exempt from the tax. Additionally, the exemption is “portable” between spouses, meaning a married couple can pass up to $10.5 million to beneficiaries without incurring any estate taxes.

Posted in Probate, Terminology

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