Estate Tax Calculator

Dianne Reis, attorney at law.

Board Certified - Estate Planning and Probate Law

Texas Board of Legal Specialization

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Estate Tax Calculator 2012

Instructions: Please complete items 1 through 5 below. Do not enter any information in the other lines, as these lines are automatically calculated. Also, do not type any commas or periods.

1. Life insurance proceeds.

(Do not include proceeds that are protected by a life insurance trust.)

2. Pension, profit-sharing, IRA, and other retirement assets.

3. All other assets.

This is your gross estate.

4. Debts.

5. Charitable bequests.

This is your taxable estate.

Estate tax.

If you are single, this is the estate tax payable at your death. If you are married and the two of you leave all of your property to each other, this is the estate tax payable at the second death.

Potential benefit of bypass trust.

If you are married and each of you owns half of the assets listed above, this is the amount your heirs might save if you add a bypass trust to your will or living trust.

WARNING: This calculator cannot be used as a substitute for legal advice. The calculator assumes that you die in 2012 and make no significant lifetime gifts. If you are married, the calculator assumes that you and your spouse each own half of every asset. The calculator makes other important (and potentially wrong) assumptions about your estate. The calculator computes federal estate tax, without regard to the federal deduction for state death taxes. The tax due in any given case may be substantially higher or lower than is shown above, and may vary depending on your state of residence.

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Copyright 1998-2012 by Dianne Reis.

1. Life insurance proceeds. (Do not include proceeds that are protected by a life insurance trust.)
2. Pension, profit-sharing, IRA, and other retirement assets.
3. All other assets.
This is your gross estate.
4. Debts.
5. Charitable bequests.
This is your taxable estate.

Estate tax. If you are single, this is the estate tax payable at your death. If you are married and the two of you leave all of your property to each other, this is the estate tax payable at the second death.

Potential benefit of bypass trust. If you are married and each of you owns half of the assets listed above, this is the amount your heirs might save if you add a bypass trust to your will or living trust.