Federal Estate Tax Exemption Amounts

           

            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                                                                                              $     675,000.00

2002 & 2003                                      1,000,000.00

2004 & 2005                                      1,500,000.00

2006, 2007 & 2008                            2,000,000.00

2009                                                   3,500,000.00

2010                                           NO ESTATE TAX

2011 & 2012                                                                            5,000,000.00

2013 and beyond                                                                1,000,000.00