Estate Planning Calculator
Calculate estate taxes and inheritance distribution
Estate Information
Estate Assets
Only if you own the policy
Deductions
Estate Analysis
Gross Estate Value
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Estate Calculation
Federal Estate Tax
State Estate Tax
Net to Heirs
Recommendations
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When to Use Estate Planning Calculator
High Net Worth Planning
Calculate potential estate tax liability for estates exceeding $14M exemption to plan tax minimization strategies.
Gift Planning
Determine if lifetime gifting reduces estate tax burden and calculate optimal gift amounts within exemptions.
Business Succession
Estimate estate tax on business interests to plan succession and ensure heirs can afford tax without selling business.
Spousal Portability
Calculate combined exemption for married couples and determine if portability election provides sufficient protection.
State Tax Planning
Compare state estate tax liability in different states to evaluate relocation or trust strategies for tax savings.
Charitable Giving
Calculate estate tax savings from charitable bequests to maximize philanthropy while minimizing tax burden.
Frequently Asked Questions
What is the federal estate tax exemption?
The federal estate tax exemption is $13,990,000 per person ($27,980,000 for married couples with portability). Estates valued below this threshold owe no federal estate tax. The exemption is portable between spouses, meaning surviving spouse can use deceased spouse's unused exemption. Estate tax rate is 40% on amounts exceeding exemption. State estate taxes may apply with lower thresholds.
How is estate tax calculated?
Estate tax calculation: 1) Determine gross estate value (all assets: real estate, investments, business interests, life insurance). 2) Subtract debts, funeral expenses, administrative costs. 3) Apply marital deduction (unlimited for spouse) and charitable deductions. 4) Subtract $13,990,000 exemption. 5) Tax remaining amount at 40%. Example: $20M estate - $13.99M exemption = $6.01M taxable × 40% = $2.404M estate tax. Lifetime gifts reduce available exemption.
What is the annual gift tax exclusion?
Annual gift tax exclusion: $18,000 per recipient ($36,000 for married couples splitting gifts). Can give $18,000 to unlimited number of people annually without using lifetime exemption or filing gift tax return. Gifts exceeding $18,000 per person require Form 709 and reduce lifetime exemption. Medical/education payments made directly to providers are unlimited and don't count. Gifts to spouse (US citizen) are unlimited under marital deduction.
Do I need estate planning if my estate is under $14 million?
YES - estate planning is important regardless of estate value. Benefits beyond tax savings: 1) Avoid probate (costly, public, time-consuming). 2) Designate guardians for minor children. 3) Healthcare directives and power of attorney. 4) Control asset distribution timing and conditions. 5) Protect assets from creditors. 6) Plan for incapacity. 7) State estate taxes (12 states have thresholds as low as $1M). 8) Future exemption changes. Everyone needs will, healthcare proxy, and power of attorney.
What assets are included in gross estate?
Gross estate includes ALL assets owned at death: real estate, bank accounts, investments, retirement accounts (IRA, 401k), business interests, vehicles, personal property, life insurance proceeds (if you own policy), trusts where you retain control, jointly owned property (portion based on contribution), assets transferred within 3 years of death. Does NOT include: assets in irrevocable trusts (if properly structured), life insurance owned by others, properly titled joint tenancy with right of survivorship (passes to survivor).
What is portability of estate tax exemption?
Portability allows surviving spouse to use deceased spouse's unused estate tax exemption. Example: Husband dies with $5M estate, using $5M of $13.99M exemption. Unused $8.99M transfers to wife, giving her total exemption of $22.98M ($13.99M + $8.99M). Must file Form 706 within 9 months of death to elect portability, even if no tax owed. Portability only applies to most recent deceased spouse. Not available for generation-skipping transfer tax.
Which states have estate or inheritance taxes?
12 states + DC have estate tax: Connecticut ($13.6M), Hawaii ($5.5M), Illinois ($4M), Maine ($6.8M), Maryland ($5M), Massachusetts ($2M), Minnesota ($3M), New York ($7.16M), Oregon ($1M), Rhode Island ($1.8M), Vermont ($5M), Washington ($2.2M), DC ($4.5M). 6 states have inheritance tax: Iowa, Kentucky, Maryland, Nebraska, New Jersey, Pennsylvania. Maryland has both. Rates: 10-20%. Exemptions vary by relationship to deceased. No federal inheritance tax.
Is this estate planning calculator free?
Yes, this estate planning calculator is completely free with no registration required. Calculate estate taxes, exemptions, inheritance distribution, and beneficiary shares unlimited times. Estimate federal and state estate taxes, compare scenarios, and plan gift strategies. Download detailed estate planning reports. No personal information needed, no spam, just instant calculations to help you plan your estate and minimize taxes.
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