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Ask an Estate Planner: The Future of Estate Taxes

DEAR ESTATE PLANNER: I heard that the federal estate tax might be repealed? —TAX TARGET DEAR TARGET: Probably not this year. True, the House of Representatives passed an outright repeal of the federal estate tax and the federal generation-skipping transfer tax earlier this year. The repeal would take effect upon enactment. The legislation preserves the […]

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Planning for Yours, Mine and Ours

Many professionals have witnessed unintended results when people remarry without making adjustments to their estate plan. “He died with a very substantial amount in his 401(k) plan. His will left everything to his new wife and the daughter from their marriage. Unfortunately, when I checked with his employer, it turned out that he had named […]

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Alternate Valuation

The standard rule for valuing estate assets is to use the fair market value on the date of death. If the value is high enough, a federal estate tax will be due. A long-standing choice permits an estate’s assets to be valued instead at an alternate valuation date, six months after the individual’s date of […]

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