Tuesday, February 11, 2014
- The increase in the filing threshold has reduced the number of estate tax returns by 87%.
- In 2012, the gross estate threshold has drastically increased since 2003 from $1.0 million to $5.12 million.
- The total net estate tax for 2012 was $8.5 billion.
- The state with the highest number of estate tax returns filed in 2012 was California.
- Stock and real estate make up about 50% of estate tax assets in 2012.
- Those with assets worth more than $20 million had more stocks in their portfolio than real estate and retirement assets than any other type of assets.
See Pessin Katz Law, P.A., The Tax Man Cometh ... A Recap, JD Supra, Jan. 24, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.