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April 2015 Archives

How much will my estate owe in federal taxes?

Due to the way federal estate tax exemptions are set up, it's unlikely that your estate will owe any taxes to the Internal Revenue Service at the time it is administered. A report from the Joint Committee on Taxation indicates that only around two of every 1,000 estates in the country end up owing estate taxes.

Who might want to consider setting up a trust?

Trusts are one type of estate document that can protect your assets both during and after your lifetime. While you don't have to be wealthy to set up and benefit from a trust, the National Association of Financial and Estate Planning executive director points out that trusts are especially beneficial to families with $100,000 in net worth or more.

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