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Fin Plan Aug 2013 - "Non-Tax Reasons to Use a Trust"

Fin Plan Aug 2013 - "Non-Tax Reasons to Use a Trust"

Fin Plan Aug 2013 - "Non-Tax Reasons to Use a Trust"

Excerpt


Non-Tax Reasons to Use a Trust


The American Taxpayer Relief Act of 2012 made permanent the lifetime exclusion for estate, gift and generation skipping taxes. Obviously, a key reason people engage an irrevocable trust in estate planning is to help minimize estate and gift tax liabilities. If your estate is valued at more than $5.25 million (in 2013), excess proceeds are subject to a federal tax rate as high as 40 percent.


 



 


 



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