Personal federal estate tax exemption

The personal federal estate tax exemption allowance is the amount of money you can pass tax free to your heirs. Congress is reviewing legislation that will change the personal exemption allowance starting in 2010.

Q. What is the amount of your personal federal estate tax exemption?
A. It depends on what year you die.  The personal estate tax exemption amounts by year of death are shown on the following chart :

Federal Personal Estate Tax Exemption Allowance by Year of Death
Year Personal Tax Exemption Tax-Free Amount
2007 $2,000,000
2007 $2,000,000
2008 $2,000,000
2009 $3,500,000
2010 No Tax
2011 and all years thereafter $1,000,000