Are you and your spouse both U.S. citizens? If not, the foreign citizenship of you and/or your spouse may have a surprising estate tax impact. THE MARITAL DEDUCTION If an individual’s estate exceeds the estate tax exemption amount ($1 million for federal and Minnesota estate taxes in 2011, if no Congressional action), he or she […]
The current year has been and still is a chaotic year in the area of estate planning. Currently, there is no federal estate tax. And, what will ultimately happen to the federal estate tax is still unknown. How did we get here? The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) provided […]
As you may or may not know, 2010 has been a tumultuous year in the area of estate planning. Currently, there is no federal estate tax. And, worse yet, no one knows exactly what the future holds for the federal estate tax. How do you plan when there is so much uncertainty? Marital Deduction Given […]