Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Monday, February 11, 2013

Permanent Estate Tax Won't Affect Most

Unknown-1After much change over the past decade, the federal estate tax has finally become permanent.  Tables from the Tax Policy Center show that, in 2013, fewer than 1 in 700 estates will owe the tax and they will pay a total of $14 billion, which is half of the revenue collected five years ago. 

Most estates will now pass to heirs tax-free, so the higher 2013 tax rate does not effect the nearly 99.9% o estates exempt from estate tax.  But those who are subject to the tax will have a significantly higher tax bill.  

See Robertson Williams, Finally, A Permanent Estate Tax, Though Just for Wealthy Few, Forbes, Feb. 7, 2013. 

 

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