The Estate Administration Tax The Estate Administration Tax (“EAT”) (formerly known as “probate fees”) is a tax charged on the total value of the deceased’s estate. The current EAT rates are: $5.00 for each $1,000 (there is no EAT payable if the value of the estate is $1,000 or less) of the first $50,000 of the value of …
What Happens on Death? For illustrative purposes, we will assume that a taxpayer dies (with no surviving spouse) owning shares of a private company with a $1M capital gain. On death, there is a capital gain of $1M on the deemed disposition of the shares owned by the deceased, half of which is taxable. This would result in approximately …
