Estate Taxes  
Taxes are an important consideration in distributing your estate because the money your estate pays in taxes will not be available to your heirs. Each estate is allowed a federal estate tax exemption — an amount that can pass transfer-tax-free, either through lifetime gifts or at death. The 2010 Tax Relief Act reinstated the federal estate tax. In 2012, only estates valued at more than $5.12 million (or $10.24 million for some married couples) may be subject to the federal estate tax. If upon your death the total value of your estate is less than the applicable exemption amount, no federal estate taxes will be due.

You can use this calculator to estimate the taxable value of your estate and the approximate amount of federal estate taxes that could be owed.
     

Gross Value of Estate (Included in the gross estate are items such as real estate, stocks and bonds, insurance on the decendent's life, annuities, and miscellaneous property.)

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Allowable debts, expenses, deductions (Allowable debts are only valid debts owed by the decedent at the time of death. Allowable expenses may include funeral costs and expenses incurred in administering certain property. You may be able to deduct charitable bequests and certain losses that occur during the settlement of the estate.)

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Whitlock Financial Services, Inc. an Independent Firm
6 Davis Keats Drive • Greenville, SC • 29607
Phone: (864)-234-6580 • Fax: (864)-234-6588
• Mickey.Whitlock@raymondjames.com Brent.Whitlock@raymondjames.com

Whitlock Financial Services is an independent firm.  Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC.

This site is published for residents of the United States only.  Raymond James' Financial Advisors may only conduct business with residents of the states for which they are properly registered.  Therefore, a response to a request for information may be delayed.  Please note that not all of the investments and services mentioned are available in every state.  Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not adressed on this site.  Contact your local Raymond James office for information and availability.

Information and interactive calculators are made available to you as self-help tools for your independent use.  The accuracy of this calculator and its applicability to your circumstances is not guaranteed.  You should obtain personal advice from qualified professionals.  The information provided is not specific investment advice, a guarantee of performance, or a recommendation.  Rates of return will vary over time, particularly for long-term investments.  Investments offering the potential for higher rates of return also involve a higher degree of risk.  Actual results will vary.