What is the Estate Tax Credit?
The estate tax credit allows you to pass a particular amount of money to your heirs, tax-free. This can be in the form of actual cash, property or anything else of value. If you are married, the amount that you, as a couple, can pass down effectively doubles. The reason for this is that each member of the marriage can pass along the same amount. The amount of the estate tax credit changes each year. If you have a sizable estate, it is important to seek advice from an estate tax professional. As an example of how much the numbers change, in 2001, it was possible to pass along $675,000 US dollars (USD) tax free. In 2009, you can pass $3.5 million (USD). In 2010 the estate tax credit is set to expire. This, of course can change, but in 2011 it is expected that the estate tax credit will return to the same level that it was in 2002. The estate tax credit is complicated, and it makes sense to speak with an accountant before making any distributions to your family. A skilled financial manage
