Estate Tax in Georgia Probate Cases

One of the most common worries that arise when people plan their Estates is the effect that taxes will have on their heirs. It is only logical to want to ensure that your heirs receive the most value possible and taxation is one of the most common ways for an Estate to lose value.

Thankfully, an Estate tax in Georgia Probate cases is rare. While every Estate is subject to the federal Estate tax, only a small percentage will need to consider whether a state Estate tax applies. Our knowledgeable attorneys at Nelson Elder Care law can answer your questions concerning the Estate tax as well as craft Estate Plans in a way that limits the impact of these laws on the ability of your heirs to inherit your property.

Does an Out-of-State Beneficiary’s Estate Tax Apply?

Most Estate Planners in Georgia are lucky. The state of Georgia does not have an Estate tax on the books. This means that anytime a person dies in the state of Georgia, the state will never seize a portion of an Estate’s Assets.

However, this does not mean that a state’s Estate tax may not apply. Many other states and countries retain inheritance taxes that impact the ability of individuals to receive property after a death. In these situations, the state in which an heir or Beneficiary resides may seize a portion of their inheritance after they receive it via local Probate. Because of this, the proper selection of Beneficiaries in Georgia can help to limit the impact of state Estate taxes.

The Potential Impact of the Federal Estate Tax

One tax that may impact every Estate in Georgia is the federal Estate tax. This applies to every Probate proceeding that occurs everywhere in the country. Still, this will impact only a small percentage of Estates in Georgia.

The federal Estate tax seizes a portion of a person’s Estate over a certain value. As of 2021, this value is $11,700,000. This means that an Estate with a value less than this amount is free from federal Estate taxation.

For Estates in Georgia with a value of more than this amount, it is important to be able to estimate an expected tax liability. Under federal law, the Estate tax is progressive. This means that it applies only to the value in excess of $11,700,000. Furthermore, the percentage of value in excess of this amount that the government takes depends upon the total value of the Estate. For example, the government can take 18 percent of the value of an Estate that exceeds $11,700,000 if that value is between $1 and $10,000. As the value of an Estate rises, so does the percentage that the government can take. Nelson Elder Care Law can provide more information about the federal Estate tax and evaluate potential ways to limit its impact on an Estate Plan.

Discuss the Estate Tax in Probate Cases with a Georgia Attorney

Every comprehensive Estate Plan must take the Estate tax into account. While there is no state Estate tax in Georgia, other states and countries may impose inheritance taxes that could affect your heirs and Beneficiaries. Talking with our team at Nelson Elder Care Law can help you better understand the Estate tax in Georgia Probate cases and how to limit its impact on your Estate. Call today to get started.

Hear From Our Clients

I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

- Charlotte

The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

- Kerri

Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.

- Pierce

Josh Nelson, and his staff, have been amazingly helpful to our family. The ins and outs of nursing homes, the rules and regulations that govern Medicare and Medicaid are daunting and the folks at Nelson Elder Care Law have been informative, responsive, and above all, empathetic. I cannot emphasize enough how their service has taken a weight off of our shoulders especially during a world pandemic that has targeted nursing homes across our country. I highly recommend retaining Josh and his firm!

- Marcia

I had a simple legal question to them that I needed answered and they very helpful in giving me the information I needed. I highly recommend them and will reach out to them if I need more advice or assistance. Thank you for taking your time to just answer a couple of questions I had!

- Ben