Welcome to the Estate Tax Law section of FreeAdvice where you will find easy-to-understand advice regarding legal issues surrounding estate tax collection. Refer to the links on this page for information on topics relating to estate tax deductions, liabilities, exemptions, rates, and more.
An estate refers to the possessions, property and debts left by an individual at death; in other words, an estate consists of all of the property and assets amassed over the course of a person's life. In general, when an estate has value, it is subject to taxation; this taxation may exist on the state or federal level and is often distinct from inheritance taxes. However, not all estates are subject to tax, and estate tax is subject to change each year depending on current tax laws. For instance, the estate tax may be suspended entirely, as it was in 2010. Generally speaking, the only individuals who need to worry about estate taxes are those with estates totaling in the millions. For more information about estate tax law and to find out whether your estate may be subject to taxation, refer to the links to articles and frequently asked questions on this page.