Estate Planning Still Necessary
With the doubling of the Federal estate tax exemption, the number of tax payers required to file a Federal estate tax return will drop substantially. However, estate planning and review of existing plans is important. The most important object of estate planning has always been to provide a thoughtful plan for property distribution, avoiding the arbitrary rules of each state’s intestacy statutes. Minnesota, along with many other states, imposes an estate tax with a far smaller exemption than provided for by the Federal exemption. Many estate plans for married couples routinely used formulas to distribute property between a Marital Trust... Read More