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Frequently Asked Questions

What is the current estate tax limit, rate, and exemption?

The first is the federal estate tax exemption. Since 2018, estates are only taxed once they exceed $11.7 million for individuals; $23.4 million for married couples, at a top rate of 40% . (The value of a primary home is exempted up to $250,000 for individuals and $500,000 for married couples.)

Which states impose estate taxes?

States That Impose Their Own Estate Tax. These states collect their own tax on residents’ estates: Connecticut. Delaware. District of Columbia. Hawaii. Illinois. Maine.

When does federal estate tax exemption expire?

The federal estate tax exemption for 2021 is $11.7 million. The estate tax exemption is adjusted for inflation every year. The size of the estate tax exemption means very few (fewer than 1%) of estates are affected. The current exemption, doubled under the Tax Cuts and Jobs Act, is set to expire in 2026.


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