Understanding Estate Taxes & Advanced Planning
By Julie Garber
Understanding Federal Estate Taxes
While under current law the federal estate tax is scheduled to completely disappear in 2010, no one believes that Congress and President Obama will let this happen. Learn what types of taxes affect an estate, how to determine if your estate will be subject to these taxes, and how to reduce or even eliminate your estate tax bill.
- Overview of Taxes That Affect an Estate
- What is the Federal Estate Tax?
- Overview of Current Federal Estate Tax Laws
- Overview of 2013 Estate Tax Laws
- What is the Future of the Federal Estate Tax in 2013 and Beyond?
- Federal Estate Tax Exemption Chart: 1916 - 1997
- Federal Estate Tax Exemption Chart: 1997 - 2014
- When is a Federal Estate Tax Return Required to Be Filed?
- How to Calculate Your Estate Tax Liability
- How to Minimize Estate Taxes
- Exemption From Federal Generation Skipping Transfer Taxes: 1997 - 2014
- Do You Have to Report Gifts or Inheritances Received from Foreigners to the IRS?
Understanding State Estate Taxes
While your estate may not be subject to federal estate taxes due to the current $3.5 million exemption, your estate may still be subject to state estate taxes. Prior to 2005 all states collected an estate tax known as the "pick up tax," but currently only 18 states and the District of Columbia still collect an estate tax at the state level. Find out if your state is one of them.
- What is the Pick Up Tax?
- Which States Collect a State Estate Tax?
- Which States Do Not Collect a State Estate Tax?
- Understanding the State Estate Tax Exemption Gap
- What is an ABC Trust?
- Which States Allow for ABC Trust Planning?
- State Estate Tax and Exemption Chart
- 2013 State Death Tax Exemption and Top Tax Rate Chart
- Does a State Estate Tax Depend on Where the Heir Lives?
- Would You Consider Moving to Avoid State Estate Taxes?
Understanding Inheritance Taxes
Currently seven states collect a separate state inheritance tax, which is completely different from an estate tax. Learn what an inheritance tax is and if your state collects one.
- What's the Difference Between an Estate Tax and an Inheritance Tax?
- Understanding Death, Estate and Inheritance Taxes
- Which States Collect a State Inheritance Tax?
- State Inheritance Tax Chart
- Does a State Inheritance Tax Depend on Where the Heir Lives?
- Will You Have to Pay Taxes on Your Inheritance?
Understanding Gift Taxes
The federal gift tax is probably the most misunderstood tax. Learn what the gift tax is, what kinds of gifts are subject to it, and how to make sure that you follow all of the applicable rules if you make a taxable gift.
- What is the Gift Tax and Who Pays It?
- What Gifts Are Not Subject to the Gift Tax?
- What Gifts Are Subject to the Gift Tax?
- How is the Gift Tax Calculated?
- When is a Gift Tax Return Required to Be Filed?
- Are Gifts to Your Spouse Taxable?
- What is the Exemption From Gift Taxes?
- Lifetime Exemption From Federal Gift Taxes: 1997 - 2014
- What is an Annual Exclusion Gift?
- Annual Exclusion From Gift Taxes: 1997 - 2014
- Annual Gift Tax Exclusion vs. Lifetime Gift Tax Exemption
- Do You Have to Report Inheritances Received from Foreigners?
- Best Gift Tax Advice Ever
Asset Protection Planning
Asset protection has become a hot area of advanced estate planning. Learn what asset protection is and how to put together a plan that will protect your hard earned assets from creditors and lawsuits and your family's inheritance from lawsuits, creditors, and divorcing spouses.
- What is Asset Protection?
- How to Protect Your Assets From Creditors and Lawsuits
- Asset Protection for You vs. Asset Protection For Your Beneficiaries
- Do You and Your Spouse Still Have "I Love You" Wills?
- Using AB Trusts or ABC Trusts to Protect Your Spouse
- How to Protect Your Beneficiaries From Creditors, Lawsuits & Divorce
- Asset Protection Benefits of Lifetime Trusts for Your Beneficiaries
Advanced Estate Planning
Advanced estate planning is not just for the wealthy since it comes in many different forms and can be used to benefit a wide variety of people. Learn what advanced estate planning is and if you should incorporate any advanced estate planning techniques into your estate plan.