Calculate your potential federal and state estate tax
The federal estate tax exemption is $13,610,000 per person in 2024. Estates above this threshold are taxed at 40%. Married couples can effectively double the exemption via portability. Note: this exemption is scheduled to sunset to ~$7M in 2026 — now is the time to plan.
All assets: real estate, investments, business, retirement accounts
Unlimited marital deduction — transfers to spouse are tax-free
Policies you own (an ILIT removes these from your estate)
Prior gifts that used your lifetime exemption
Fully deductible — reduces your taxable estate
Assets in irrevocable trusts are excluded from your taxable estate
★ marks the 12 states + DC with separate estate taxes
