When Is an Estate Tax Return Due?

Accumulating wealth is one thing, but preserving it is another. Though you pay taxes throughout your life, there is also a federal estate tax that can impact the future of your family if you have enjoyed a considerable level of financial success. You should put together a statement of net worth when you are planning your estate to determine whether or not you are exposed to the estate tax. When you are doing so, you must include your real property and the value of life insurance policies that are in your possession. When you come up with a figure, you compare the value of your estate to the amount of the federal estate tax credit or exclusion. For the rest of 2015, the exact amount of this exclusion is $5.43 million. If the value of your estate exceeds this amount, you are faced with exposure. We should point out the fact that you can transfer unlimited assets to your spouse free of the estate tax, but it is potentially applicable on transfers to others. The maximum rate of the tax is


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