Economist examines death taxes and their misconceptions
While delivering estate-planning presentations across Montana, Marsha Goetting, Montana State University Extension family economics specialist, saw a pattern among some attendees. When it came to understanding state and federal taxes after death, many people were misinformed.
Goetting said there was a time when the federal estate tax affected many Montanans and, as a result, tax minimization became a major goal for families in their estate planning. But now, the federal estate tax affects less than 1% of deceased persons’ estates because Congress increased the amount of the federal estate tax exemption and indexed the amount yearly for inflation until 2026.