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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 15588
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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My ex husband and I divorced in 2008 and share 3 grown children. His

Resolved Question:

My ex husband and I divorced in 2008 and share 3 grown children.
His net worth is about 5 million, mostly real estate.
My net worth is 15 million, most of that is the value of my business.
I am 51 and my ex husband is 67 and in poor health.

my ex's lawyer says we should remarry to save estate taxes.
Is this true?

Thanks
Dawn
Submitted: 1 year ago.
Category: Tax
Expert:  Megan C replied 1 year ago.

Megan C :

Hello! I am a CPA here to assist you with your tax questions. My goal is to provide you with excellent service today.

Megan C :

How are you today?

Megan C :

Your husband's estate is roughly the amount of the estate tax exemption - he's not taxed on $5.2 million of his estate

Megan C :

however, that $5.2 million is reduced by any gifts that he gives during his life in excess of the annual allowances

Megan C :

If you remarry, and he passes away, his estate would go to you tax free because estates transfer to spouses free of tax

Megan C :

so, it could make sense to get remarried if he planned on passing his estate to you anyways.

Megan C :

If he was going to pass his estate to his children, then this would not be a benefit.

Megan C :

It would actually be more beneficial if you were the one who passed first, because your net worth is much higher.

Megan C :

Hello...how are you today?

Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 15588
Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
Megan C and 2 other Tax Specialists are ready to help you
Expert:  Megan C replied 1 year ago.
I see we were having problems in live chat, and am wondering if you could see my response? If not, it is available above. If you have further questions about this, please take a moment to rate my response as "excellent" so that I may receive credit for assisting you today. If not, please reply and continue or correspondence below. Thanks

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Megan C
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Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level