What is estate tax?

Estate tax is a tax that is imposed on the estate of a deceased person. In New Hampshire, the estate tax is imposed on estates that are valued at more than $4,000,000. The tax rate for an estate with a value of more than $4 million is 16%. There are some exceptions to this rule, such as when a surviving spouse dies shortly after the decedent and is also subject to the tax. The estate tax is imposed on the value of the estate after all debts and expenses have been paid. This means that the estate must use cash, stocks, bonds, real estate, and other assets to pay the tax before any remaining assets can be distributed to the beneficiaries. The estate tax was created to ensure that wealthy individuals and families do not pass large amounts of money down to their heirs without paying any taxes. The amount of the tax is based on the total value of the estate, and the rate is based on the amount of money the deceased individual had at the time of death. Estate taxes can be complicated and are often best handled with the help of an experienced attorney. An attorney can help you plan your estate to minimize the amount of taxes you have to pay and to ensure that your heirs receive their full inheritance.

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