Estate Tax Update: Maryland Changes Its Law

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As of January 15, 2015, Maryland’s estate tax exemption of just $1 million will gradually increase over the next four years until it matches the federal exemption, which is projected to be nearly $6 million in 2019 (indexed for inflation).

Maryland’s staggered estate exemption increase is scheduled to be as follows:

2015 exemption: $1.5 million

2016 exemption: $2 million

2017 exemption: $3 million

2018 exemption: $4 million

2019 exemption: Will match the federal exemption (and beyond)

Source: www.natlawreview.com

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