Legal
Calculate estate planning costs and distribution amounts
Calculate probate fees, executor fees, and beneficiary distributions
An estate planning calculator helps individuals assess their estate's value, understand tax implications, and determine appropriate planning strategies. It evaluates total assets (real estate, investments, retirement accounts, life insurance), debts, and family circumstances to identify whether estate taxes, probate fees, or other planning concerns apply. Understanding your estate's value guides decisions about wills, trusts, beneficiary designations, and tax strategies. A comprehensive assessment helps ensure assets transfer efficiently to heirs while minimizing taxes and probate costs, potentially saving families tens of thousands of dollars.
The calculator inventories all assets including real property, financial accounts, investment portfolios, business interests, vehicles, valuable personal property, and life insurance death benefits. It subtracts liabilities (mortgages, loans, final expenses estimates). The result is your gross estate value, which is compared against federal and state estate tax exemptions. The calculator then projects potential taxes, probate costs, and identifies planning opportunities based on your situation.
Gross Estate Value = All Assets + Life Insurance Death Benefits - Liabilities. Taxable Estate = Gross Estate minus Lifetime Exemption (currently $13.61M federal, though this decreases to $7M in 2026). Estate Tax Owed = Taxable Estate × 40% federal rate + applicable state estate taxes.
Gross estate includes the value of all your assets at death. Taxable estate is gross estate minus allowable deductions (debts, final expenses, marital deduction if applicable). Only taxable estate above the federal exemption ($13.61M in 2025) is subject to federal estate tax. Many estates qualify for 100% exemption, but state estate taxes may still apply.
Currently, federal estate tax only applies if your estate exceeds $13.61M. However, the exemption decreases to approximately $7M in 2026 unless Congress extends current law. If your estate might exceed applicable exemptions, consult an estate planning attorney about strategies. Additionally, some states impose estate taxes at lower thresholds ($1-3M).
A will is a legal document specifying how your property is distributed after death, but it must go through probate, which is time-consuming and public. A revocable living trust allows your property to pass to heirs outside probate, maintaining privacy and typically reducing costs by 3-5%. Most comprehensive estates use both documents.
Life insurance death benefits are included in your gross estate and can trigger estate taxes. However, irrevocable life insurance trusts (ILITs) can hold policies outside your taxable estate. Life insurance also provides liquidity to pay estate taxes and equalize inheritances among children. Include all policy death benefits in your estate calculation.
