TaxBizPro, LLC posted on November 04, 2009 16:11
The following are the amounts that are exempt from Federal Estate Tax.
In 2005: First $1,500,000 in assets
In 2006-2008: First $2,000,000 in assets
In 2009: First $3,500,000 in assets
In 2010: First 1,000,000 in assets
In 2011-?: First 1,000,000 in assets
If your assets (Real Estate, IRAs, Life Insurance, Savings Accounts, CD, Stocks, Bonds and any other Investments or Properties) exceed the exemption amounts above, then for every dollar more than the exemption, the Uncle Sam will take following persentages:
Federal Estate Tax Rates
2005: 47 %
2006: 46 %
2007- 2009: 45 %
2010: No Estate Tax
2011-?: 55%
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