Joel and Rachel are both retired. Married for 20 years, they’ve amassed an estate worth $3.6 million. The couple has no trusts or other types of tax-sheltered assets. If Joel or Rachel dies in 2016, how much federal estate tax would the surviving spouse have to pay, assuming that the estate is taxed at the 45 percent rate? (Leave no cells blank - be certain to enter "0" wherever required.)
Federal Estate Tax?
Answer- 0
Explaination: According to DEFINITION of ' Unlimited Marital
Deduction ' A provision in United States Federal Estate and Gift
Tax Law which allows an individual to transfer an unrestricted
amount of assets to his or her spouse at any time, including at the
death of the transferor, free from tax. This means that no taxes
would needed to be paid on a specific amount transferred to either
spouse, even in the case of death.
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