On March 22, 2011, I will be presenting a seminar for clients of Citi Bank in Maryland. I have attached the presentation for your information. Download 2011 Citibank
In discussing estate planning for Maryland residents, it reminds me of the complications those residents face doing their estate planning. Residents of Maryland and the District of Columbia, and certain other states, are limited to $1 million of assets that they can protect from estate tax. In contrast to Virginia and other states, which have eliminated the estate tax, and states like Delaware, which follow the federal estate tax system (currently $5 million), there can be state estate tax on the difference between the federal and state exemption amounts. Thus, not only is it important to know the federal law, but there can also be state tax issues that must be addressed.
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