On this subject, see the attached IRS article http://www.irs.gov/taxstats/indtaxstats/article/0,,id=212022,00.html

Here is  chart of our nonsensical estate tax laws.  Note the wildly different amounts that can pass (or did pass) without estate tax, depending solely on the year of death. Yet, over the last 30 years, the amount that can pass without estate tax has never gone down, starting with President Reagan to President Clinton … Continue reading Chart of our past, present, and future nonsensical estate tax laws: how much can pass tax free depends on year of death. →

See this article in Trusts and Estates: http://trustsandestates.com/wealth_watch/president-obama-budget-proposal-estate-planning-0622/index.html

The Death Tax Repeal Permanency Act was introduced in the Senate last month. The bill has 34 co-sponsors and is very similar to H.R. 1259, the Bipartisan Death Tax Repeal Permanency Act, which was introduced in the House of Representatives in March 2011 and would repeal both the federal estate tax and the federal generation-skipping … Continue reading Repeal of Estate Tax and Repeal of GST Tax Bill Introduced in Senate →

  2010 2011 2012 2013 Estate Tax Exemption amount * $5.0 million * $5.0 million * $5,120,000 * $1.0 million *See note below ** Tax rate Flat (35%) Flat (35%) Flat (35%) Progressive (up to 55%) Elections Can elect out of estate tax, but §1022 carryover basis will apply ($1.3 million “free-basis” + $3.0 million … Continue reading Chart of current and historical estate tax exemptions, gift tax exemptions, and GST exemptions →