Questions & Answers

Will a Living Will Save on Estate Taxes?

If your estate is subject to either federal or state estate tax, a trust can save substantial taxes for a married couple. These savings are obtained by being able to use the exemption amount at each death, instead of just at the death of the surviving spouse. However, a Living Trust will not save any death taxes for an individual unless other deductions are available, such as charitable deduction if you give a portion of your assets to charity.

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