• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Unsworth LaPlante is open for in-person meetings! We have taken precautions in our office to ensure the safety and well-being of our clients and staff. To learn more about how Unsworth LaPlante is helping people through the COVID-19 pandemic, click here.

Unsworth LaPlante, PLLC

Vermont Estate Planning Attorneys

Vermont: (802) 879-7133

Attend A Free Webinar
  • Home
  • Our Firm
    • About Our Firm
    • Meet Our Team
  • Services
    • Elder Law
    • Estate And Gift Tax Figures
    • Estate Planning
    • Incapacity Planning
    • IRA & Retirement Planning
    • Legacy Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • SECURE Act
    • Special Needs Planning
  • Resources
    • Articles
    • Elder Law Reports
    • Elder Law Resources
      • Burlington
      • Free Estate Planning Seminars
      • Montpelier
      • Rutland
      • St. Johnsbury
      • White River Junction
    • Free Estate Planning Worksheet
    • Frequently Asked Questions
      • Estate and Gift Tax
      • Estate Planning
      • FAQs for Families Without an Estate Plan
      • Incapacity Planning
      • IRA & Retirement Planning
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Medicaid
      • Pet Planning
      • Special Needs Planning
      • Trust Administration
      • Trusts
      • Wills
    • Is Your Estate Plan Outdated?
    • Medicaid Resources
      • Medicaid Analysis Worksheet
      • Medicaid Guide
      • Vermont Medicaid
    • Newsletters
    • Presentations
    • Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Estate Planning for Niches
    • Top Estate Planning Techniques
  • Webinars
  • Communities We Serve
    • Burlington
  • Reviews
    • Our Reviews
    • Review Us
  • BLOG
  • Contact
Home » Using Your Estate Tax Exemption

Using Your Estate Tax Exemption

May 30, 2013 by Stephen Unsworth

Vermonters currently are allowed a state estate tax  exemption on the first $2,750,000 of their gross estates.  This exemption can have a huge effect on your estate plans. You may note that this level is lower than the federal estate tax exclusion of $ 5,250,000. In both cases, any assets left to your surviving spouse are exempt.

Providing for your family, particularly your spouse is the most important aspect of most estate plans. Once a sufficient amount of resources are allocated to your immediate family, you can safely dedicate other assets to more distant relatives, friends and colleagues. As long as you color within the lines and your estate remains below prescribed levels, no estate taxes will apply.

You can easily leave all of your estate to your spouse and many individuals continue to do just that. The downside of such a strategy is that your spouse is left with a larger estate to bequest at his or her death.

Once you have assessed your current situation and anticipate the future needs of your family, it is a good time to establish your estate plans or update your current plan. You have always put family first and your estate plans will reflect that love and concern. Tax planning of this nature requires you to think several steps  ahead to minimize any tax liability when your assets once again change hands, often long after your own passing.

 

  • Author
  • Recent Posts
Stephen Unsworth
Stephen Unsworth
Stephen A. Unsworth is admitted to practice in both Vermont and Maine, and has more than 30 years of experience in estate planning and business law. His mission is to provide quality estate planning services, including assistance with Living Trusts, Wills, Medicaid Planning, Probate, Trust Administration, Powers of Attorney, Special Needs Planning, and Family Limited Partnerships.
Stephen Unsworth
Latest posts by Stephen Unsworth (see all)
  • Words to the Wise: Five Estate Planning Suggestions - March 1, 2021
  • Updating Your Plan: Beneficiary Designations - February 26, 2021
  • Four Inheritance Planning Tips for Blended Families - February 17, 2021

Filed Under: Estate Planning Tagged With: Estate Planning

Other Articles You May Find Useful

Starting the New Year Right
estate planning
Words to the Wise: Five Estate Planning Suggestions
Updating Your Plan: Beneficiary Designations
gift tax exclusion
Was There a 2021 Gift Tax Exclusion Increase?
estate planning 66
“Simple” Estate Planning Solutions Can Get Complicated
Tax Planning for 2021

Primary Sidebar

Elder Law and Medicaid Planning Attorneys

Unsworth LaPlante, PLC

DOWNLOAD OUR FREE ESTATE PLANNING WORKSHEET

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.
  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

Blog Subscription

  • This field is for validation purposes and should be left unchanged.

Essex Junction, VT

26 Railroad Ave
Essex Junction, VT 05452
United States (US)
Phone: (802) 879-7133
Fax: (802) 879-0408

Map

unsworth_sidbr_map

Office Hours

Monday8:00 AM - 5:00 PM
Tuesday8:00 AM - 5:00 PM
Wednesday8:00 AM - 5:00 PM
Thursday8:00 AM - 5:00 PM

Footer

footer-logo
  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

The information on this Vermont Attorneys & Lawyers / Law Firm website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

American Academy of Estate Planning Attorneys, Inc. Privacy Policy | Contact Us | Disclaimer | Site Map | Powered by American Academy of Estate Planning Attorneys

© 2021 American Academy of Estate Planning Attorneys, Inc.