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    eductions like funeral expenses paid out of the estate, debts outstanding at the time o
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    Estate tax is the levy by the government against the taxable estate of a deceased person. Taxable estate means gross estate reduced by allowable deductions. Gross estate means total estate comprising the value of all assets owned by the deceased at the time of death. IRS determines taxable estate by subtracting from gross estate certain allowable deductions like funeral expenses paid out of the estate, debts outstanding at the time of
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    n. Taxable estate means gross estate reduced by allowable deductions. Gross estate means total estate comprising the value of all assets owned by the deceased at the time of death. IRS determines taxable estate by subtracting from gross estate certain allowable deductions like funeral expenses paid out of the estate, debts outstanding at the time o
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    total estate comprising the value of all assets owned by the deceased at the time of death. IRS determines taxable estate by subtracting from gross estate certain allowable deductions like funeral expenses paid out of the estate, debts outstanding at the time o
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    eath. IRS determines taxable estate by subtracting from gross estate certain allowable deductions like funeral expenses paid out of the estate, debts outstanding at the time o
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    eductions like funeral expenses paid out of the estate, debts outstanding at the time of death, estate administration expenses, charitable, marital, and deductions

    The assets are valued at their ‘fair market value’, or the price they would fetch if sold in an open market. The personal representative of the benefactor can choose the valuation date for ascertaining the value of the assets. It can be either the date of the death of

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