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Reply to "Parents/in-laws paying estate tax to avoid giving while alive"
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[quote=Anonymous][quote=Anonymous]The federal estate limit is 13.1 million per individual, so 26.2 million is excluded from federal estate taxes. Do they have an estate worth more than that?[/quote] That will sunset by end of 2025 to about $5.6M per person. DP: either way, the current or the new will still impact our family. Hence why we have trusts in place to avoid the estate tax. Also, many states have estate taxes that start as low as $2M (it's a way to make money if you have low or no state income taxes). So these trusts are even more important. Ours starts at 10% and goes up to 20%. So you could be paying out 60% to the govt if not fiscally smart. Not sure why anyone would want to do that when you can legally avoid it [/quote]
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