Ensure Your Estate Plans have a Strong Foundation – January 2022
What is your primary goal with estate planning? You answer may be, “To pay as little tax as possible.” Unless everything is left to charity, taxation should still be addressed, but the emphasis should always be on who your estate plan will benefit and how will it be executed. Because of the Tax Cuts and Jobs Act of 2017, less than 1 in 10,000 decedents’ estate, or 0.0001% will owe federal estate taxes.
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