University of Maryland Extension

Estate Planning for Farm Families (FS-972)

Earlier this year the Maryland General Assembly recoupled the state estate tax exemption with the federal estate tax exemption.  Recoupling is tying Maryland’s state estate tax exemption back to the federal estate tax exemption something that has not happened since 2001.  Over the next 5 years, Maryland’s estate tax exemption will be gradually increased in 2015 and each year after until the state’s exemption is equal to the federal exemption in 2019.  This will have ramifications on existing estate plans in the state.

To aid Maryland residents understand this change and the estate planning process, Lori Lynch and I worked to update the Estate Planning For Maryland Farm Families fact sheet.  This publication was originally developed by Lori and Wes Musser and provides a general overview of many of the tools utilized in estate planning and discusses potential tax implications that you should be aware of.  The publication is available by clicking here.

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