Will You Owe Estate Taxes?: THE GOOD NEWS is it's becoming increasingly less likely that you'll owe federal estate taxes. That's because the amount an individual can leave to heirs free of federal estate taxes in 2009 is $3.5 million (up from $2 million in 2006-2008).
Still, with retirement accounts, homes and life insurance death benefits thrown into the pot, it's easier than some think for a working couple to be subject to the federal estate tax. And this tax can be brutal. For every dollar more than $3.5 million that you leave behind, Uncle Sam will take 45 cents.
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