a sample of an Estate tax analysis ledger , now hiring financial planners and service pro at www.pfaonline.com Join us. Call Connie 408-854-1883 motherhealth@gmail.com
1. This analysis assumes that sampla dies in 10 years and sampleb dies 10 years later.
Current Plan
First Death in 2021
Gross Estate $594,342
Liabilities $0
Net Estate $594,342
Probate and Expenses $5,943
Final Expenses $0
Additional Expenses $0
Total Expenses $5,943
Adjusted Gross Estate $588,399
Deductions
Marital Deduction $588,399
Trust for Spouse $0
Charitable Bequests $0
Total Deductions $588,399
Additions
Post 1976 Gifts $0
Total Additions $0
Calculation of Taxes
Tentative Tax Base $0
Federal Tax Before Credits $0
Post 1976 Gift Taxes Paid $0
Applicable Credit $345,800
State Tax $0
State Credit $0
Addititional Credit $0
Total Net Taxes $0
IRD Income Tax $0
Distributions
Bequest to Others $0
Insurance Inside Estate $0
Insurance Outside Estate $0
Irrevocable Life Insurance Trust $0
Gifts $0
Charitable Gifts $0
Charitable Bequests $0
Life Insurance to Charity $0
Charitable Trusts $0
Family Trust $0
Grantor Retained Trusts $0
Intentionally Defective Trusts $0
Qualified Personal Residence Trusts $0
Dynasty Trusts $0
FLP $0
Income in Respect of Decedent (IRD) $0
2. Current Plan
Second Death in 2031
Gross Estate $1,319,140
Liabilities $0
Net Estate $1,319,140
Probate and Expenses $13,191
Final Expenses $0
Additional Expenses $0
Total Expenses $13,191
Adjusted Gross Estate $1,305,949
Deductions
Charitable Bequests $0
Total Deductions $0
Additions
Post 1976 Gifts $0
Total Additions $0
Calculation of Taxes
Tentative Tax Base $1,305,949
Federal Tax Before Credits $472,358
Post 1976 Gift Taxes Paid $0
Applicable Credit $345,800
State Tax $51,981
State Credit $51,981
QDOT Tax $0
Addititional Credit $0
Total Net Taxes $126,558
IRD Income Tax $338,318
Total to Heirs and Others
Net Estate at Second Death $841,073
Bequest to Others $0
Insurance Inside Estate $0
Insurance Outside Estate $0
Irrevocable Life Insurance Trust $0
Gifts $0
Charitable Gifts $0
Charitable Bequests $0
Life Insurance to Charity $0
Charitable Trusts $0
Family Trust $0
Grantor Retained Trusts $0
Intentionally Defective Trusts $0
Qualified Personal Residence Trusts $0
Dynasty Trusts $0
FLP $0
Total to Charity $0
Total to Others $841,073
Total to Heirs and Others $841,073