Form 706 is the United States Estate (and Generation-Skipping Transfer) Tax Return. Executors use it to report a decedent's gross estate, deductions, credits, and elective provisions such as portability of the deceased spousal unused exclusion (DSUE). The return generally is due nine months after death, with extensions available, and often requires qualified appraisals for closely held interests and real property. Accurate preparation coordinates with wheels, trusts, beneficiary designations, and liquidity sources (often life insurance) to satisfy tax obligations without forced sales. Proper apportionment clauses ensure the intended parties bear the tax burden.

Estate teams gather appraisals, calculate deductions, evaluate DSUE portability, andsize life insurance for tax liquidity. Advisors coordinate apportionment clauses so beneficiaries bear taxes as intended. Filing on time with complete disclosure reduces audit risk and keeps settlement on schedule.