Federal Estate Tax Exclusion Amounts
by Gary Ham, Lawyers Title Insurance Corp., Published 1/8/2009
<< Browse/Search for Another News ArticlePursant to the Economic Growth and Tax Relief Reconciliation Act of 2001 the federal estate tax exclusion for persons dying in 2009 is $3,500,000.00.
Please remember that as a general rule federal estate tax, if unpaid, is a lien against a decedent's real property for a period of 10 years from the date of death (26 U.S.C. 6324).
Please also remember that for purposes of valuing a decedent's estate for possible federal estate tax applicability the decedent's entire estate is considered, not just the value of the real estate being conveyed. if the taxable value of the estate is less than the applicable exclusion amount, the estate is exempt from the tax.
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