Estate Tax Calculator
Understanding Estate Tax
Estate tax is a tax on the transfer of property after death. The federal exemption for 2024 is $13.61 million per individual. Some states also have estate or inheritance taxes with lower exemptions.
Key Points
- Federal exemption: $13.61M (2024)
- Portability allows spouses to combine exemptions
- State exemptions may be lower
💡 Tips
- Use portability between spouses
- Consider gifting strategies
- Life insurance can pay estate taxes
- State taxes vary significantly