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1650 Spruce Street, Suite 410
Riverside, CA 92507

Phone: 951.788.9410
Fax: 951.788.0766
Email: lowrance@lobbcliff.com

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Professional Resources

CPA Resources: Estate Planning

Unified Credit Amounts
Estate Tax Rate Schedule
Generation Skipping Tax Exemption Amounts
Gift Tax Exemption Amount

Unified Credit Amounts

$ 675,000 for decedents dying in 2000-2001,
$1,000,000 for decedents dying in 2002-2003,
$1,500,000 for decedents dying in 2004-2005,
$2,000,000 for decedents dying in 2006-2008,
$3,500,000 for decedents dying in 2009, and
No estate tax for decedents dying in 2010
**If no further legislative changes are made, in 2011 the Unified Credit amount will return to $675,000 (aka “Sunset” provision of EGRTRAA).

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Estate Tax Rate Schedule

There are five rates.
For calendar years 1993 through 2000, these rates were:

15%, 28%, 31%, 36%, and 39.6%.

For 2001, the five rates were:

15%, 27.5%, 30.5%, 35.5%, and 39.1%.

For 2002, the five rates were:

15%, 27%, 30%, 35%, and 38.6%.

For calendar years 2003 through 2010, the five rates are:

15%, 25%, 28%, 33%, and 35%.

After 2010, the rate structure applicable to 1993 through 2000 is scheduled to resume.

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Generation Skipping Tax Exemption Amounts

$1,000,000 for estates of decedents dying in 2002-2003;
$1,500,000 for estates of decedents dying in 2004-2005;
$2,000,000 for estates of decedents dying in 2006-2008;
$3,500,000 for estates of decedents dying in 2009; and
No GST Tax for estates of decedents dying in 2010.
**If no further legislative changes are made, in 2011 the GST exemption amount will return to $675,000 (aka “Sunset” provision of EGRTRAA).

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Gift Tax Exemption Amount

For 2005 – Annual gift exemption amount is $11,000 per donor per donee.
For 2006 – Annual gift exemption amount is $12,000 per donor per donee.
Lifetime Gift tax exemption limit is $1,000,000.

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DISCLAIMER
This is for informational purposes only and should not be considered professional advice, legal advice or to create an attorney-client relationship. You should consult with your own professional (Accountant, Lawyer, Tax Advisor) regarding the application of this information to your own situation. Neither the information provided, nor any response to it is intended to create an attorney-client relationship or privilege of any kind.

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