The 23 estate asset categories

March 29th, 2010 News

The IRS maintains statistics for estate taxes filed. The estate tax is primarily based on the value of assets included in your estate. The IRS groups assets into the 23 categories listed below:

  1. Cash
  2. Cash management accounts
  3. Personal residence
  4. Other real estate
  5. Closely held stock
  6. Publicly traded stock
  7. Unclassifiable mutual funds
  8. State and local bonds
  9. Federal savings bonds
  10. Other Federal bonds
  11. Corporate and foreign bonds
  12. Bond funds
  13. Limited partnerships
  14. Insurance, face value
  15. Insurance, policy loans
  16. Retirement assets
  17. Real estate partnerships
  18. Other non-corporate business assets
  19. Farm assets
  20. Depletables / intangibles
  21. Mortgages and notes
  22. Art
  23. Other assets

Call David E. Trice, Attorney at Law at 1 773 233 3303 for more information about the assets in your estate.