|
|
|
Estate Taxes and Unified Credit
Ask your clients if they realize if:
>> The federal government charges estate tax on all estates passed
to heirs.
 These taxes can be
reduced by a specified unified credit amount.
>> The odds that estate taxes will affect their
beneficiaries are on the rise.
From 1987 to 1998,
the number of estate tax returns showing a tax liability more than doubled.*
Tax rates of 55% or
more can devour inherited assets or bankrupt a family business.
>> In addition to federal estate taxes, some states
impose their own death tax or estate transfer tax.
Note:Legislation may eliminate estate tax in the coming years. Fortunately,
the Catalyst software was
designed to allow the estate tax rate to be manually entered so no update will be required
if this tax is repealed.
 |
