You should be fully aware of the potential impact of the federal estate tax when you are putting your estate plan together. This tax carries a 40 percent maximum rate, and this can cost your family a great deal of money if your estate is in taxable territory.
To explain the estate tax parameters, we should provide a bit of background information. The estate tax was repealed entirely for the 2010 calendar year due to provisions that were contained within the Bush era tax cuts. All along, the estate tax was scheduled to return in 2011.
