nun
Thinks s/he gets paid by the post
- Joined
- Feb 17, 2006
- Messages
- 4,872
My net worth just ticked over $2M. I'm well below the federal estate tax, but my estate will have to pay state estate tax if it is valued at over $1M. Of course I could move to a state with a higher tax free amount, but what about the use of irrevocable trusts to reduce the value of the estate? Has anyone done this? I assume there would be tax implications on that transfer.
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