Should I Be Concerned About Estate Taxes?
The honest answer to this question is that it depends on when you die. The individual estate tax exemption has grown from $600,000 in 1997 to over $5 million in 2016. The top estate tax rate was 55% in 1997 and is now down to 35%.
There are estate planning techniques that can help you reduce the amount of tax you may owe at the time of your death.And if you have already planned your estate, review your plan with your estate planning attorney to make sure your documents work with the changing tax laws and you wishes will be fulfilled whenever you pass away. Click here for more in depth information about estate taxes.
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