Estate Planning
| Key indexed figures | 2012 | 2013 |
|---|---|---|
| Annual gift exclusion: | $13,000 | $14,000 |
| Gift and estate tax applicable exclusion amount: | $5,120,000 + DSUEA1 | $5,250,000 + DSUEA1 |
| Noncitizen spouse annual gift exclusion: | $139,000 | $143,000 |
| Generation-skipping transfer (GST) tax exemption: | $5,120,0002 | $5,250,0002 |
| Special use valuation limit (qualified real property in decedent’s gross estate): | $1,040,000 | $1,070,000 |
1 Basic exclusion amount plus deceased spousal unused exclusion amount (exclusion is portable for 2011 and later years)
2 The GST tax exemption is not portable
2013 gift and estate tax rate schedule
| Taxable Estate | Tentative Tax Equals | Plus | Of Amount Over |
|---|---|---|---|
| 0 – $10,000 | $0 | 18% | $0 |
| $10,000 – $20,000 | $1,800 | 20% | $10,000 |
| $20,000 – $40,000 | $3,800 | 22% | $20,000 |
| $40,000 – $60,000 | $8,200 | 24% | $40,000 |
| $60,000 – $80,000 | $13,000 | 26% | $60,000 |
| $80,000 – $100,000 | $18,200 | 28% | $80,000 |
| $100,000 – $150,000 | $23,800 | 30% | $100,000 |
| $150,000 – $250,000 | $38,800 | 32% | $150,000 |
| $250,000 – $500,000 | $70,800 | 34% | $250,000 |
| $500,000 – $750,000 | $155,800 | 37% | $500,000 |
| $750,000 – $1,000,000 | $248,300 | 39% | $750,000 |
| $1,000,000 + | $345,800 | 40% | $1,000,000 |
| Credit shelter amount $5,250,000 | Unified credit amount $2,045,800 | ||
2011 through 2012 gift and estate tax rate schedule
| Taxable Estate | Tentative Tax Equals | Plus | Of Amount Over |
|---|---|---|---|
| 0 – $10,000 | $0 | 18% | $0 |
| $10,000 – $20,000 | $1,800 | 20% | $10,000 |
| $20,000 – $40,000 | $3,800 | 22% | $20,000 |
| $40,000 – $60,000 | $8,200 | 24% | $40,000 |
| $60,000 – $80,000 | $13,000 | 26% | $60,000 |
| $80,000 – $100,000 | $18,200 | 28% | $80,000 |
| $100,000 – $150,000 | $23,800 | 30% | $100,000 |
| $150,000 – $250,000 | $38,800 | 32% | $150,000 |
| $250,000 – $500,000 | $70,800 | 34% | $250,000 |
| $500,000+ | $155,800 | 35% | $500,000 |
| Credit shelter amount $5,000,000 in 2011, $5,120,000 in 2012 | Credit amount $1,730,800 in 2011, $1,772,800 in 2012 | ||
