The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) increased the unified credit, i.e. the amount of a decedent’s assets which are exempt from federal estate tax.  For the year 2010, the federal estate tax is abolished.  The exclusion amounts are as follows: 

Year of Death                             Exclusion Amount

2001                                                  $675,000

2002& 2003                                      1,000,000

2004& 2005                                      1,500,000

2006, 2007 & 2008                            2,000,000

2009                                                   3,500,000

2010 & 2011                                      5,000,000

2012                                                   5,120,000

2013                                                   5,250,000

2014                                                   5,340,000

2015                                                   5,430,000

2016                                                   5,450,000

2017                                                   5,490,000

2018                                                   11,180,000

2019                                                   11,400,000

2020                                                    11,580,000

 

Rev. 3\20