Donald M. Thompson - Wills, Trusts, and Estate Planning

WILLS, TRUSTS, AND ESTATE PLANNING

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Rates

The Federal Estate and Gift Tax rates schedule technically applies starting at the first dollar given. The tax rates are graduated. The top rate is 35% and this applies at far lower levels than the applicable exclusion amount of $5,000,000 (the exempt amount). Therefore the effective rate is a flat 35% over $5,000,000.

 

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55 W. Monroe #3950; Chicago, IL 60603
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Illinois Estate Planning Lawyer Donald M. Thompson