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.
