Tax Relief for 2012, Even For Dying

Tax Relief for 2012, Even For Dying
Tax publisher CCH put out its estimates of ranges for 2012 tax brackets and projections for inflation-sensitive figures such as the standard deduction and the estate tax exemption, and it’s good news especially for the well-off, even those who die. Here’s what’s changing (and what isn’t).The estate tax exemption will be indexed for the first time, so that for 2012, up to $5.120 million of an estate will be exempt from the current 35% federal estate tax. That’s up from $5 million in 2011; that means an individual could leave $120,000 more estate-tax-free if he dies on Jan. 1, 2012, not Dec. …