Member Of:
Google Reviews
Yelp Reviews
Avvo Client's Choice Award 2019
Justia Lawyer Rating
Martindale-Hubbell 2019

How Much are Estate Taxes?

By Barry Peters | Aug 17, 2019

Just how much are estate taxes these days? The answer is that, for the vast majority of people, they are no longer an issue.

The Tax Cuts and Jobs Act of 2017 increased the size of estates that are exempt from taxation to $11.4 Million (for 2019). That means a person may leave up to $11.4 Million of property and possessions to heirs without any taxes being due.

For those rarified few whose net worth exceeds that amount, the excess will be taxed at a 40% rate.

One should also bear in mind that the exemption applies to each person. That means that a married couple can each leave $11.4 Million to heirs without estate taxes being imposed.

But, again, for the vast majority of Americans, there will not be any estate taxes due at death.

Client Reviews
★★★★★
Cadillac service for a great price! No complaints, only compliments. We appreciate your "personal touch" and easygoing style. Paul Jansen
★★★★★
I was completely satisfied with the entire process. In a few short weeks I had a completed trust tailored to my specific needs. It was so easy! The timeline and costs were stated up front, and every aspect was handled with the utmost professionalism, what more could one ask for? The website is extremely helpful. 5 stars to Barry Peters! Melissa S.
★★★★★
Thank you very much for your help with the closing of Mom’s house, it is now scheduled to close Monday. You were the only person that said we can beat all of this. Other attorneys told us to walk away. We put our faith in you Mr. Peters and came out on top. Thank you again. Michael E.