The estate tax may or may not be fair, but it is a reality that you must address when you are planning your estate as a high net worth individual. If you are married there are some details that you should be aware of as you plan ahead with tax efficiency in the forefront of your thinking. Each person in a marriage has his or her own estate tax exclusion. As a result, there is a total $10.5 million exclusion for a married couple in 2013. Plus, the estate tax exclusion has been portable since the 2011 tax year. If your spouse was to pass away before you it would be possible for you to use his or her exclusion in addition to your own.
Topics covered in this report include:
- Selective Imposition
- Married Couples: Some of the Facts
Click here to read the whole report or download the PDF.
Mark S. Eghrari is an attorney in private practice in Smithtown, New York. He has been in practice since 1988. Mark S. Eghrari provides extensive estate and tax planning services to individuals and businesses. Mr. Eghrari’s primary focus is helping clients avoid probate, minimize or eliminate Federal and State Estate taxes and protect their assets from the high cost of nursing care, if they become ill.
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