Form Instructions 706 AR 2024-2025

Form Instructions 706 AR: What You Should Know

The Estate may be in the form of a cash value of more than 10,000,000 OR it may be valued more than 10,000,000 using the formulas in the 2025 Form 706 on line 1(c). The gross estate does not include a trust, an estate of a person who dies as, or after, the date of death of the decedent, nor does it include property acquired by death and held by a person in possession for more than 6 months following the date of death. Include your marital status (married, single, separated or divorced) and the marital status of all children if any. If you are married or a widower, you may not include your spouse's name in this information box. A note on Form 706 In many states, including New Jersey, there are limits on the amount an individual can leave to a qualified non-exempt entity. In California, you cannot leave more than 250,000 to a non-exempt entity. When you complete the form (and sign or initials) include the following information: Your name, (first and middle initials are fine). The name, (first and middle initials are fine) birth and marriage dates (or any other details) of all your children, who, if any, are living at the time of the submission. The names and birthdates of all your husband's and wife's parents, as well as the names and birthdates of all other person(s) who are living at the time of the submission. Do not include siblings (unless all their ages are the same), adoptive parents and grandparents. These persons are not eligible for a special trust election. If your spouse has not been living with you for the six-month period immediately preceding the filing date of your tax return, or has not lived with you for six months within the last twelve months, you may not give a copy of the IRS-approved Spouse's Tax Return Application to the non-exempt entity, and the non-exempt entity may not send a copy of your application to the IRS. For additional guidance, see our blog article about the New Jersey tax estate: NJ Estate Tax Estate. For information, you can find online on New Jersey estate planning, including our online tax course that is offered through EPI, see our website at .

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