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Monday, April 2, 2012
States With an Inheritance Tax
It is April and taxes are on people's minds. From an estate perspective, there is always the federal estate tax. Applied when someone dies with an estate over a certain amount, currently $5 million. There is also a state estate tax.....if you live in one of 22 states. Do you live in one? Check out this map on Forbes' web site. Wisconsin does not currently have a state estate tax. But stay tuned, changes may be coming in 2013.
Melinda Gustafson Gervasi is a Madison attorney and author whose current practice focuses on estate planning and probate. She is committed to increasing the public’s understanding of estate planning and probate issues. In 2013 she released her first book, Middle Class Philanthropist where she illustrates how anyone can leave a legacy. Gustafson Gervasi Law Office, LLC, 5555 Odana Rd., Suite 205, Madison, WI 53719
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