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.
&n