Taxable estate

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Taxable estate

That portion of a deceased person's estate that is subject to transfer tax.

Taxable Estate

The value of an individual's estate that is subject to taxation. The taxable estate includes the actual value of the estate and most gifts and transfers made for a certain period of time before death. It is important to note that any assets left to a surviving spouse and all assets under a certain dollar amount (under $1 million, depending on the year) are usually excluded from the taxable estate. See also: Estate tax.
References in periodicals archive ?
So, effectively a tax increase for all taxable estates up until April 2017, and an escalating tax increase for taxable estates thereafter, that don't qualify for the Main Residence NRB.
Obama's proposals also would include grantor trust assets in taxable estates and gifts and impose tax on trust distributions.
25 percent of taxable estates, and business assets accounted for fewer than 14 percent during 2009, according to a Congressional Research Service analysis of the data.
According to the Urban-Brookings Tax Policy Center, if the $1 million exemption is in place for 2011, the number of taxable estates is expected to increase to 44,000 from 5,500.
With the drop in portfolio values, some clients with formerly taxable estates will no longer be subject to estate taxes in 2009 and possibly in 2011 as well.
QTIP trusts are a popular estate-planning tool for married couples with potentially taxable estates.
Hatcher focuses his practice in the areas of real estate transactions, business transactions, and planning for taxable estates.
These returns had combined taxable estates of at least $1 million for 2003 and $250,000 for 2004.
This specialises in helping clients avoid inheritance tax by enabling them to go on liking in their homes while putting them outside their taxable estates.
Account owners can make large contributions (up to $55,000 by individuals or $110,000 by a couple in a single year, prorated over a five-year period) without incurring gift- or generation-skipping taxes, thereby removing assets from their taxable estates.
The top marginal estate tax rate will drop 5 percent in 2002 from 55 percent to 50 percent and the 5 percent surtax on taxable estates over 10 million to phase out the benefit of the graduated rate structure is eliminated.
That's because generally taxable estates worth in excess of $650,000 may be subject to federal taxes, which can be as high as 55 percent of the taxable estate.