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Barron’s on Why You Should Gift Now

Great article from Barron's explaining the lifetime bypass trust and how couples can gift over $10,000,000 to each other (although most gift much less) and avoid estate tax if they act by December 31. For married couples, a popular strategy is for each spouse to create a trust that will ultimately provide for heirs, but that also names the other spouse as a beneficiary. The advantages are clear: Couples can move as…

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Lifetime Bypass Trust

Until December 31, the lifetime gift tax exclusion is $5,120,000 per person. Unless Congress acts, this amount will drop to $1,000,000 on January 1, 2013.  It is usually best to use a tax exemption as soon as possible – use it or lose it. The opportunity, good now through the December 31, is to gift assets out of your estate and forever exempt the assets and all future appreciation from estate tax.…

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2. Who Needs an Estate Plan?

Here is part 2 my series entitled, Estate Planning – What You Need to Know. Who Needs an Estate Plan? If you have a family, a house or a business or you have assets you would like to pass down to certain people or charities, then you absolutely need an estate plan. An estate plan will make sure there are enough funds to take care of your spouse and young children, often…

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