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Federal Estate Tax and Connecticut Estate Tax may be payable when someone dies. In my probate and estates practice we prepare the necessary documents to help you and your family protect and preserve assets, maximize tax benefits and plan for the future. We are also available to provide probate administration services including settling and distributing estates. It is important for you to obtain competent, professional advice. Please contact Attorney Elizabeth A. Edwards to schedule an appointment.
Estates of Decedents Dying on or After January 1. 2010
For estates of individuals dying on or after January 1, 2010, the Connecticut Estate and Gift Tax will apply to Connecticut taxable estates of more than $3.5 million. The fiduciary must file a Connecticut Estate and Gift Tax Return with the Commissioner of Revenue Services and a copy with the appropriate Probate Court. The filing deadline is six months from the date of death, and interest and penalties will accrue from that date.
Estates valued at $3.5 million or less
For Connecticut taxable estates of $3.5 million or less the fiduciary must file a Connecticut Estate Tax Return only with the Probate Court. If the Probate Judge believes that the estate is not subject to tax based on this return, the judge will issue a written opinion setting forth the reasons for his/her opinion. The deadline is six months from the date of death.
Estates of Decedents Dying On or After January 1. 2005 but prior to January 1. 2010
For estates of decedents dying on or after January 1, 2005 but prior to January 1, 2010, the Connecticut Estate and Gift Tax will apply to Connecticut taxable estates of more than $2 million. This includes Connecticut taxable gifts made on or after January 1, 2005. However, estate tax returns are required for all estates, regardless of value.
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Taxable Estates Valued at More than 52 million
For Connecticut taxable estates of more than $2 million, the fiduciary must file an original Connecticut Estate and Gift Tax Return with the Commissioner of Revenue Services and a copy with the Probate Court for the appropriate district. The filing deadline is nine months from the date of death, and interest and penalties will accrue from that date. For individuals whose date of death is on or after July 1, 2009, the filing deadline is six months from the date of death.
Taxable Estates Valued at $2 million or Less
For Connecticut taxable estates of $2 million or less, the fiduciary must file the Connecticut Estate Tax Return only with the Probate Court. If the Probate Judge believes that the estate is not subject to tax based on this return, the judge will issue a written opinion stating the reasons for his/her opinion. The filing deadline is nine months from the date of death, or six months if the individual died on or after July 1, 2009. Penalties and interest accrue from the filing deadline.
Estates of Individuals Who Died Before January 1. 2005
For individuals who died before January 1, 2005, the fiduciary must file a Connecticut Succession Tax Return with the Probate Court. After reviewing the form, the court will forward it to the Commissioner of Revenue Services. There may also be a Connecticut Estate Tax due for certain cases where the filing of a Federal Estate Tax Return is required. The filing of a U.S. Treasury Department Federal Estate Tax Return may be required if the total value of the estate's assets exceeds a certain amount, as specified in the Internal Revenue Code. The fiduciary must file both a Federal and a Connecticut Individual income Tax Return for the individual for the tax year in which the individual died, and pay any state income tax that may be due. The fiduciary may also be required to file a Fiduciary Income Tax form and a Connecticut Income Tax Return for Trusts and Estates.
