Per the IRS, an estate tax is a tax on the transfer of property upon death. An estate tax considers the fair market value of all the property within one’s estate, and not what the assets were originally purchased for. The total of these items is known as the Gross Estate, and can include cash, securities, ownership interests in either a business or real estate, annuities, among other asset classes. As of 2019, a filing is only required for estates with a gross assets and prior taxable gifts above $11,400,000.
Once the Gross Estate has been determined, one may be able to take deductions to determine the actual taxable amount of the estate. These include mortgages, estate administration expenses, and property that is given to eligible charities. Note, that property passed to a living spouse may be transferred tax free.
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Hypothetical example(s) are for illustrative purposes only and are not intended to represent the past or future performance of any specific investment.
Investing in alternative assets involves higher risks than traditional investments and is suitable only for sophisticated investors. Alternative investments are often sold by prospectus that discloses all risks, fees, and expenses. They are not tax efficient and an investor should consult with his/her tax advisor prior to investing. Alternative investments have higher fees than traditional investments and they may also be highly leveraged and engage in speculative investment techniques, which can magnify the potential for investment loss or gain and should not be deemed a complete investment program. The value of the investment may fall as well as rise and investors may get back less than they invested.
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