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What is a Lifetime QTIP Trust? One traditional estate planning model for married couples makes use of the “AB Trust” strategy.  After the first spouse dies, the “B Trust” holds an amount equal to the federal estate tax exemption (currently $5.34 million in 2014), and the “A Trust” holds the excess.  The “A Trust” is a “QTIP Trust” or “Marital Deduction Trust” which qualifies for the unlimited marital deduction, meaning that the property passing into
How to Minimize Legal Fees After Death Death is a costly business.  Aside from funeral expenses, legal fees can take a big chunk out of how much is left for your loved ones after you’re gone. But it doesn’t have to be this way.  Careful planning can minimize the legal fees your loved ones will pay after you die.  Here’s how: 1.         Make an estate plan – The cost of creating an estate plan will be far
If You Die Without a Will, Does Your Spouse Inherit Your Entire Estate? If you are married and you die without a Last Will and Testament, you may mistakenly believe that your spouse will still inherit your entire estate.  Not so fast.  Who will inherit your estate depends on several different factors: 1.   How is your property titled?  Is your property titled in your name alone, in joint names with your spouse, in joint names with
Lifetime QTIP Trusts – The Gift That Keeps Giving Estate planning for married couples can be tricky when one spouse is significantly wealthier than the other and each spouse wants different beneficiaries to ultimately inherit their estate.  One solution to this problem is the Lifetime QTIP Trust. What is a Lifetime QTIP Trust? One traditional estate planning model for married couples makes use of the “AB Trust” strategy.  After the first spouse dies, the “B
Does Your Revocable Living Trust Reduce Your Estate Tax Bill? Many people believe that once they set up and fund a revocable living trust, property held in the trust will avoid estate taxes after they die.  In reality, this may or may not be true depending on your choice of beneficiaries and the terms written into your trust agreement. Single Trustmakers and Estate Taxes If you’re single and you create and fund a revocable living

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