Submitted By: Walter
Answered: September 3, 2013 8:30 am

Have the estate tax laws changed for 2013?

While the fundamental rules are the same for estates of those who died in 2012 and those who die this year, some of the important numbers are different. For example, the exemption amount (the value of property that can be transferred free of estate tax) in 2013 is $5.25 million; it was $5.12 million in 2012.

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Tax Glossary

Qualified plan

A retirement plan that meets tax law tests and allows for tax deferment and tax-free accumulation of income until benefits are withdrawn. Pension, profit-sharing, stock bonus, employee stock ownership, and Keogh plans and IRAs may be qualified plans.

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