estate tax basics

dominic flock

a tax on someones estate

when someone passes away, also an inheritance tax. it decides who gets what from a will.

everything you own adds up to your estate worth

if you decide to give everything to someone, the first 5 million dollars is exempt from taxes. if its more that 5 million than all the money over 5 million will get taxed. if its a couple that died its 10 million thats exempt.