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Federal Estate Tax
Federal Estate Tax and the Federal Estate Tax Return for a Bucks County estate is also due nine months after the Bucks County Decedent’s date of death. In order to prepare a Federal Estate Tax Return you must understand complex federal tax law.
Michael J. Saile, Esq. of Saile & Saile LLP has an advanced law degree (L.L.M.) in taxation and has been preparing Federal Estate Tax Returns for over thirty years. It takes an experienced Bucks County estate attorney who regularly prepares Federal Estate Tax Returns to properly prepare the complex tax calculations.
Due to the Federal Estate Tax Return’s complexity, inexperienced lawyers will often refer estates to Saile & Saile LLP for preparation and filing the Federal Estate Tax Return.
Due to the recent rise in the value of Bucks County real estate, many Bucks County estates are subject to Federal Estate Tax.
Federal Estate Tax is due when the net value of a Bucks County estate is above the yearly exclusion.
| Year of Death: | Exclusion: | Tax Rate: |
| 2008 | $2,000,000 | 45% |
| 2009 | $3,500,000 | 45% |
| 2010 | unlimited | 0% |
| 2011 | $1,000,000 | 55% |
If the gross value of the Bucks County estate is over the yearly exclusion, the executor will have a duty to pay Federal Estate Tax and file the Federal Estate Tax Return. It is highly recommended that you retain a qualified and experienced Bucks County estate lawyer to prepare a Federal Estate Tax Return.
