Estate Planning FAQ's
Tax Changes From 2001
This simplified chart shows the key rates that will change between 2004 and 2010.
2004
Applicable Exclusion Amount - 1.5 Million
Lowest Estate Tax Rate – 45%
Highest Estate Tax Rate – 48%
Lifetime Gifts Market Value Exemption - $1 Million
Lowest Gift Tax Rate – 41%
Highest Gift Tax Rate – 48%
GST Exemption Amount Allowable - $1.5 Millio
GST Transfer Tax Rate – 48%2005
Applicable Exclusion Amount - 1.5 Million
Lowest Estate Tax Rate – 45%
Highest Estate Tax Rate – 47%
Lifetime Gifts Market Value Exemption - $1 Million
Lowest Gift Tax Rate – 41%
Highest Gift Tax Rate – 47%
GST Exemption Amount Allowable - $1.5 Million
GST Transfer Tax Rate – 47%2006
Applicable Exclusion Amount - 2 Million
Lowest Estate Tax Rate – 46%
Highest Estate Tax Rate – 46%
Lifetime Gifts Market Value Exemption - $1 Million
Lowest Gift Tax Rate – 41%
Highest Gift Tax Rate – 46%
GST Exemption Amount Allowable - $2 Million
GST Transfer Tax Rate – 46%2007
Applicable Exclusion Amount - 2 Million
Lowest Estate Tax Rate – 45%
Highest Estate Tax Rate – 45%
Lifetime Gifts Market Value Exemption -$1 Million
Lowest Gift Tax Rate – 41%
Highest Gift Tax Rate – 45%
GST Exemption Amount Allowable - $2 Million
GST Transfer Tax Rate – 45%2008
Applicable Exclusion Amount - 2 Million
Lowest Estate Tax Rate – 45%
Highest Estate Tax Rate – 45%
Lifetime Gifts Market Value Exemption - $1 Million
Lowest Gift Tax Rate – 41%
Highest Gift Tax Rate – 45%
GST Exemption Amount Allowable - $2 Million
GST Transfer Tax Rate – 45%2009
Applicable Exclusion Amount - 3.5 Million
Lowest Estate Tax Rate – 45%
Highest Estate Tax Rate – 45%
Lifetime Gifts Market Value Exemption - $1 Million
Lowest Gift Tax Rate – 41%
Highest Gift Tax Rate – 45%
GST Exemption Amount Allowable - $3.5 Million
GST Transfer Tax Rate – 45%2010
Applicable Exclusion Amount - Repealed
Lowest Estate Tax Rate - Repealed
Highest Estate Tax Rate - Repealed
Lifetime Gifts Market Value Exemption - $1 Million
Lowest Gift Tax Rate – 35%
Highest Gift Tax Rate – 35%
GST Exemption Amount Allowable - Repealed
GST Transfer Tax Rate - Repealed2011+
Applicable Exclusion Amount - 1.1 Million
Lowest Estate Tax Rate – 41%
Highest Estate Tax Rate – 55%
Lifetime Gifts Market Value Exemption - $1.1 Million
Lowest Gift Tax Rate – 41%
Highest Gift Tax Rate – 50%
GST Exemption Amount Allowable - $1.1 Million
GST Transfer Tax Rate – 55%
Disclaimer
Disclaimer of Liability: This site is provided as a public service by the ABA Section of Real Property, Probate and Trust Law. While the information on this site is about legal issues, it is not legal advice or legal representation. Because of the rapidly changing nature of the law and our reliance upon outside sources, we make no warranty or guarantee of the accuracy or reliability of information contained herein or at other sites to which we link. We assume no responsibility for any information, advice or services provided by any site to which we link.
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