What Are Taxable Estates & Trusts?

what are taxable estates & trusts?

Answer:

A taxable estate is the total value of a deceased person’s assets that are subject to taxation. The net assets subject to taxation equal the person’s total assets minus liabilities and minus the prescribed tax-deductible portion of assets left behind by the deceased that cross some minimum threshold, below which no estate tax is levied.

Explanation:

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