Michael Choate Associates CPA

Estate and Gift Tax Rates and Unified Credit Exemption Amounts

Year Estate & GST Tax
Transfer Exemption
(each person)
Highest Estate
& Gift Tax Rates
2003 $1,000,000* 49%
2004 $1,500,000 48%
2005 $1,500,000 47%
2006 $2,000,000 46%
2007 $2,000,000 45%
2008 $3,500,000 45%
2009 $1,500,000 45%
2010 Estate & GST Taxes Repealed 35% (gift tax only)
2011 $5,000,000 55%

If your combined net worth is greater than $5,000,000 you need estate tax planning strategy.

If you have minor children or an estate value of over $5 million (including life insurance), we strongly recommend you establish a Will and develop an estate tax strategy.

The annual gift tax exemption is $13,000 for 2011 and 2012.

For more information call Michael R. Choate, CPA at 225-292-7434 or email:   mike@choatecpa.com