Why would your death be a taxable event when you have paid taxes all of your life? Your estate is the remainder that you have left after paying these taxes. Learn more about estate tax in Vermont in this presentation.

1. IS THERE AN ESTATE TAX IN
VERMONT?

2. DEATH AND TAXES
We have all heard that death and taxes are
the only two certainties.

3. However, you may assume they do
not go hand-in-hand.

4. Why would your death be a taxable
event when you have paid taxes all
of your life? Your estate is the
remainder that you have left after
paying these taxes.

5. FACT OF LIFE
Whether it is fair or not, there are death taxes
that can enter the picture after you pass away.

6. This is a fact of life, and these taxes
can significantly impact your legacy.

7. VERMONT STATE ESTATE
TAX
Most states in the union do not impose state-
level estate taxes.

8. The District of Columbia has its own
estate tax, and 14 states have
state-level death taxes.

9. We practice law in Vermont, and
there is a Vermont state estate tax.

10. The entirety of your estate would not be
subject to the Vermont estate tax.
CREDIT OR EXCLUSION

11. There is a credit or exclusion that
can be used to transfer a certain
amount before the tax would kick in.

12. At the present time, the exclusion in
Vermont is $2.75 million. The
maximum rate is 16 percent.

13. NO PORTABILITY
Speaking of spouses, the Vermont estate
tax exclusion is not portable.

14. This means that a surviving spouse
cannot use the exclusion that was
allotted to his or her deceased
spouse.

15. The survivor would have just one
exclusion to utilize.

16. FEDERAL ESTATE TAX
In addition to the Vermont state estate tax,
there is also a federal estate tax that is
applicable in each state.

17. The exclusion on the federal level is
$5.45 million.

18. The unlimited marital deduction
applies on the federal level, and the
federal exclusion is portable
between spouses.

19. PROTECT YOUR LEGACY
If your estate is in taxable territory, you have
options.

20. The best way to proceed will
depend upon the circumstances,
and there are multiple different
options available to you.

21. SCHEDULE A FREE ESTATE
PLANNING CONSULTATION
We offer free consultations to people in and
around Burlington, VT.

22. Feel free to contact us if you would
like to set up an appointment.

23. Contact or visit us online today
for a free initial consultation

24. Unsworth Law, PLC
802-879-7133
www.unsworthlaw.net