Estate Taxes  
Taxes are an important consideration in distributing your estate because the money your estate pays in taxes will not be available to your heirs. Each estate is allowed a federal estate tax exemption — an amount that can pass transfer-tax-free, either through lifetime gifts or at death. The 2010 Tax Relief Act reinstated the federal estate tax. In 2012, only estates valued at more than $5.12 million (or $10.24 million for some married couples) may be subject to the federal estate tax. If upon your death the total value of your estate is less than the applicable exemption amount, no federal estate taxes will be due.

You can use this calculator to estimate the taxable value of your estate and the approximate amount of federal estate taxes that could be owed.
     

Gross Value of Estate (Included in the gross estate are items such as real estate, stocks and bonds, insurance on the decendent's life, annuities, and miscellaneous property.)

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Allowable debts, expenses, deductions (Allowable debts are only valid debts owed by the decedent at the time of death. Allowable expenses may include funeral costs and expenses incurred in administering certain property. You may be able to deduct charitable bequests and certain losses that occur during the settlement of the estate.)

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Ohio Financial, Anastasakis & Associates
7976 Broadview Rd., Suite 109 • Broadview Heights, OH • 44147
Phone: (440) 746-1600 • Fax: (440) 746-1604
• george@ohiofinancial.net

Securities offered through J.W. Cole Financial, Inc., Member FINRA/SIPC. Investment Advisory Services offered through Cornerstone Asset Management Services, Inc., a Registered Investment Advisor.  Ohio Financial, Anastasakis & Associates and CAMS are independent of J.W. Cole Financial, Inc.

 

Registered Representatives of J.W. Cole Financial, Inc. whose identities and associations with Ohio Financial, Anastasakis & Associates and CAMS are disclosed on this site, may only conduct business with residents of the states and/or jurisdictions for which they are properly registered.  Therefore, a response to a request for information may be delayed.  No information provided on this site is intended to constitute an offer to sell or a solicitation of an offer to buy shares of any security, nor shall any security be offered or sold to any person, in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under securities laws of such jurisdictions.  Please note that not all of the investments and services mentioned may be available in every state. 

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