Estate Taxes  
Taxes are an important consideration in distributing your estate because the money your estate pays in taxes will not be available to your heirs. Each estate is allowed a federal estate tax exemption — an amount that can pass transfer-tax-free, either through lifetime gifts or at death. The 2010 Tax Relief Act reinstated the federal estate tax. Through 2012 only estates valued at more than $5 million (or $10 million for some married couples) may be subject to the federal estate tax. If upon your death the total value of your estate is less than the applicable exemption amount, no federal estate taxes will be due.

You can use this calculator to estimate the taxable value of your estate and the approximate amount of federal estate taxes that could be owed.
     

Gross Value of Estate (Included in the gross estate are items such as real estate, stocks and bonds, insurance on the decendent's life, annuities, and miscellaneous property.)

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Allowable debts, expenses, deductions (Allowable debts are only valid debts owed by the decedent at the time of death. Allowable expenses may include funeral costs and expenses incurred in administering certain property. You may be able to deduct charitable bequests and certain losses that occur during the settlement of the estate.)

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Reagan & James Wealth Advisors - Williamsburg, VA and Irvington, VA

WILLIAMSBURG:
263 McLaws Circle, Suite 101B
Williamsburg, VA 23185
Phone: 757-941-5200
Fax: 757-941-4958
Toll Free: 866-461-3724

IRVINGTON:
4504 Irvington Road
Irvington, VA 22480
Phone: 804-438-9006
• chinson@rjwealth.com

Asset Custody provides by Wells Fargo's First Clearing.

Securities offered through Prospera Financial Services, Inc.

Member FINRA/SIPC

The information contained on this website is for general use, and while we believe all information to be reliable and accurate, it is important to remember individual situations may be entirely different. The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel. Neither the information presented nor any opinion expressed constitutes a representation by us or the purchase or sale of any securities.

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