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Reply to "Family trust, where do I start?"
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[quote=Anonymous][quote=Anonymous]Right now the inheritance tax exemption is $10million but it us expected to go down to $5 million. Who knows what Congress will do. It has been 0.[/quote] The revocable trusts that most people are talking about here do nothing for estate tax liability. If Congress changes the law, you can reevaluate. If they drop the exemption amount, there are likely to be other tax law changes, as well, so there’s not much use in trying to predict the future. [/quote]
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