Estate planning includes, but is not limited to, designating guardians for your children, setting up trusts, and the transition of cash and property to the people and institutions of your choice. A key part of estate planning is helping reduce estate and inheritance tax.
Use this Estate Tax Liability Calculator to determine potential federal estate tax liability for you and your heirs. This tool uses the latest information from the IRS including annual changes and those due to tax reform. Gather your 2019 financial statements including bank accounts, investments, charitable giving and more to fill in each section. Definitions of key terms are provided below the chart.