Estate planning isn't just about organizing your assets - it's about making sure the people you love keep as much of what you've built as possible. The Estate Tax Report helps you understand your potential estate tax liability, so you can plan ahead with confidence.
What is the Estate Tax Report?
The Estate Tax Report is a Pro membership benefit that gives you a clear picture of your potential estate tax exposure. It calculates your Estimated Taxable Estate (ETE), which is your gross estate minus debts and deductions, and compares it against federal and state exemptions. This allows you to see, at a glance, whether your estate is likely to owe estate taxes.
Who can access the Estate Tax Report?
The Estate Tax Report is available exclusively to members with a Pro membership ($299/year). If you're on a free/basic plan, upgrading to Pro unlocks this report along with other powerful estate planning tools.
What is an Estimated Taxable Estate (ETE)?
Your ETE is the value of your estate that may be subject to estate taxes. It's calculated as:
Gross Estate − Debts − Other Deductions = Estimated Taxable Estate (ETE)
- Gross Estate: The total value of all your assets
- Debt: Outstanding debts subtracted from your estate
- Other Deductions: Additional allowable deductions, such as certain expenses or charitable gifts
What exemptions does the report use?
The report compares your ETE against two exemptions:
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Federal estate tax exemption: Currently $13.99M
- Estates below this threshold are generally not subject to federal estate tax.
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State estate tax exemption: Varies by state
- Some states have no estate tax at all, while others have lower exemption thresholds than the federal limit.
What does the report tell me?
The report shows a visual comparison of your ETE against the federal exemption, making it easy to see where you stand. If your ETE is below the exemption threshold, the report will indicate that your estate is unlikely to owe estate taxes. If your state has its own estate tax, that will be flagged separately.
How do I keep the report accurate?
Your Estate Tax Report is only as accurate as the information in your estate inventory. Make sure your inventory is up to date and includes estimated values for all your assets to get the most reliable picture of your estate. You can add to or edit your inventory at any time from the Estate Inventory tab.
Important Note
The Estate Tax Report is not a substitute for professional tax or legal advice.
This report is for informational purposes only and may not account for all allowable deductions or personal legal factors. For guidance specific to your situation, we recommend consulting an estate planning attorney.
For help with general questions or anything related to our product, feel free to reach out to our friendly Member Support team at any time.