In the United States, upon your death the federal government assesses a tax on the sum of your estate when you pass away. When your intended beneficiaries or executor/trustee take possession of your assets, they must pay a tax from the balance of the estate. This tax, with a rate up to 40%, primarily exists to encourage individuals to transfer their assets before they pass away. Understanding how to calculate your federal estate tax can be tricky. Here is a breakdown of how to understand it, and what you need to know.
The first step to finding your federal estate
Continue Reading The Federal Estate Tax is on the Precipice of Change