Estate Planning

Top Lessons on Estate Planning

• No matter your net worth, it's important to have a basic estate plan in place.


• An estate plan has several elements.


• Taking inventory of your assets is a good place to start.


• Everybody needs a will.


• Trusts aren't just for the wealthy.


• Discussing your estate plans with your heirs may prevent disputes or confusion.


• The federal estate tax exemption -- the amount you may leave to heirs free of federal tax -- changes regularly.


• You may leave an unlimited amount of money to your spouse tax-free, but this isn't always the best tactic.


• There are two easy ways to give gifts tax-free and reduce your estate.


• There are ways to give charitable gifts that keep on giving.

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