Fun Fact Friday: Estate Tax

After a person dies, his property and assets turn into his "estate." The federal government takes a part of his estate -- an estate tax -- if the value is over a certain limit. For 2014, the estate tax applies to estates valued at over $5.34 million.

(As always, if you think this might apply to you, talk to your lawyer, accountant, or other professional. This is not a substitute for the personalized advice of your own financial team.)

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© 2013 - 2019 by Hilary J. Leitch/Leitch Law PLLC.

Disclaimer: The information contained in this website is provided "as-is,"' with no warranties or guarantees. This information should not be considered as actual legal, tax or investment advice and you should always contact a certified accountant, a tax professional, or an attorney before making any financial decisions. While every attempt has been made to provide current and accurate information, neither the author nor the publisher can be held accountable for any errors or omissions. The user is solely liable for any and all reliance, use, or action on this information.