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dyodd, ymmv, bid en suc ks.
40% estate tax, $11.7 million exemption (23.4 for a married couple)Originally Posted by JamesBond
Because they can... FWIW, I have been working on my estate for some time and I found about an item called an irrevocable life insurance trust. I believe the estate tax on estates over $5 million are now subject to a 45% government money grab, and this is one mechanism to soften the blow. I couldn't tell you all the particulars, but you might want to investigate it a little further...dyodd, ymmv, bid en suc ks.
-ILIT is a good start
-Gifting during your lifetime helps reduce the estate size
-FL370esq also pointed out GRAT (Grantor Retained Annuity Trust) as a good option once above the limits.
-At a minimum a Revocable Trust helps simplify the estate for your heirs