Looking around the internet I see that the estate tax limit for 2012 is about 5M dollars. But things are not clear after 2012. Even the IRS web site seems unclear (maybe I missed something). Are future rates unknown at this time? Is Congress now setting the limit annually?
At 5M dollars the limit doesn't affect me but over the past few years the rate has varied from 1M, to 3M, to 5M dollars. In 2010 there was no limit at all (I believe). How do people plan their estates with the numbers jumping around like this?
Again my main question is, what are the estate tax limits for years after 2012?
thanks!
At 5M dollars the limit doesn't affect me but over the past few years the rate has varied from 1M, to 3M, to 5M dollars. In 2010 there was no limit at all (I believe). How do people plan their estates with the numbers jumping around like this?
Again my main question is, what are the estate tax limits for years after 2012?
thanks!