Dana Law Firm > Practice Areas > Estate Tax Returns

Estate Tax Returns

When clients pass away, the estate must file a Federal Estate Tax Return within 9 months of death.  Estates below a certain exemption amount are exempt from this requirement.  Currently, the exemption amount is $1,500,000.  It will be raised to $2,000,000 in 2006.   There is an estate tax due of approximately 45% of the estate in excess of the exemption amount.  Our firm has the experience and expertise to assist Executors in preparing and filing this return.  We assist the client in determining the "Fair Market Value” of all assets as of the date of death of the decedent.  We also have the knowledge of what deductions or other strategies are available to minimize the tax.  Furthermore, we may be able to work out payment options with the IRS.