For most people, federal estate tax is not a concern at all. It used to be, but today the threshold before you have worry about federal estate tax is $11.4 million. So for the great bulk of us, we’re never going to have to worry about federal estate tax. Now that number is scheduled to be cut in half after year 2025, but still for most of us, if we’re looking at a federal estate tax threshold of $5.5 million, we’re really not going to have to worry about the tax.

And in fact, because of a concept in the tax law that came into effect in 2010 called portability, husband and wife basically get to share – double that threshold. So for a husband and wife, essentially if you have an estate of below $23 million, you don’t have to worry about federal estate tax. So there are really very few people who have to worry about the federal estate tax. Now if you are in that bracket where you have to worry about it, the tax is pretty hefty. It’s 40 – that’s 4 – 0 percent, but for most of us, we’re never going to have to worry about it. It’s just a nice dream that we would have to worry.