Tax
Mar. 17, 2006
Even After Death, Steps Can Be Taken to Lower Estate Taxes
Focus Column - By Bruce Givner - Parents should consult with competent counsel and complete their estate tax planning long before serious illness or death. When the first parent dies, there is usually no estate tax because of the combination of the lifetime transfer tax exclusion ($2 million effective Jan. 1, 2006) and the unlimited marital deduction. However, even after the surviving parent's death, some estate tax planning is possible.
By Bruce Givner
Parents should consult with competent counsel and complete their estate tax planning long before serious illness or death. When the first parent dies, there is usually no estate tax because of the combination of the lifetime transfer tax exclusion ($2 million effective Jan. 1, 2006) and the unlimited marital d...
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