Tax Tips: Estate and Gift Tax Rates and Unified Credit Exemption Amounts

Estate and Gift Tax Rates and Unified Credit Exemption Amounts

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$1,000,000* $1,500,000 $1,500,000 $2,000,000 $2,000,000 $3,500,000 $1,500,000 Estate & GST Taxes Repealed $5,000,000	49% 48% 47% 46% 45% 45% 45% 35% (gift tax only) 55%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