Will my estate have to pay any Estate Taxes?
Whether your estate will be required to pay any tax on your estate at the time of your death depends on the size of your estate and the tax laws at the time of your death. Currently, an estate under $3.500.000 does not have to pay any federal estate tax; however, many states have separate state tax. Our estate planning, unlike most “on-line” services takes into account the state death tax as well as the federal estate tax. Generally, any part of your estate going to a surviving spouse of to a qualified charity is exempt from estate tax if your estate must pay tax, the federal estate tax rate is 45 percent. Typically state estate tax rates are considerably lower.
Attorneys in York, Maine specializing in Real Estate Law, Civil & Criminal Litigation, Estate Planning, and Incorporation, serving the communities of Southern Maine in York and Cumberland counties including: York, York Beach, Kittery, Kittery Point, Eliot, South Berwick, North Berwick, Ogunquit, Wells, Kennebunkport, Kennebunk, Alfred, Lyman, Arundel, Biddeford, Saco, Sanford, Springvale, Acton, Shapleigh, Limerick.
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