Marital Exemption in Estate Taxation

4 April 2015
Legality, methods of implementation, benefits, terminal interest, court decisions, testamentary division, IRAs, life insurance.

When the typical wealthy business owner dies, it’s a big payday for the IRS. The estimate is that in such cases estate and other taxes usually rob the family of over 50 percent (sometimes over 75 percent for certain types of assets) of the family wealth. Such outcomes occur because the federal estate tax is a progressive tax beginning at 18 percent and eventually reaching 55 percent on the part of each taxable estate in excess of $3,000,000. This research examines the marital exemption, the effective application of which, can help to avoid such situations. The marital deduction is designed to permit a surviving spouse to avoid all or some of the federal estate tax until her or his own death.
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