The bad news: Nothing is certain except death and taxes.
The good news: Thanks to the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (better known as the Bush tax cut extension package) a new, temporary, federal estate and gift tax has been established for 2011 and 2012.
Want to learn how to use the new estate tax rules to provide big benefits for those who die in 2011 and 2012? Don’t miss our new article titled Tax Tips for the New Estate and Gift Tax Rules.
Three ways our fact-filled article can help you:
- We’ll explain the new rules in easy-to-understand language. We’ll discuss the $5 million estate tax exclusion and the 35% tax rate. We’ll also explain why the deceased spouse’s unused exclusion is portable and the impact of the portable exclusion on married couples. You’ll get all this important information and more when you read the full article.
- We’ll tell you how to avoid a costly trap. A deceased spouse’s unused exclusion amount is available to a surviving spouse only if an election is made on a timely filed estate tax return (including extensions) of the predeceased spouse on which such amount is computed. This is true regardless of whether or not the estate of the predeceased spouse is required to file an estate tax return. Get the whole story, including clear examples, when you read the full article.
- You’ll learn how the new law equalizes estate and gift tax exclusions and rates. Plus, we’ll give you a valuable planning tip that can save you a tremendous amount of money. The tip is yours when you read the full article.