Will I Owe Estate Tax?
You may have read recently a great deal about the debate regarding estate tax making it appear as if avoiding estate tax is the most important reason why individuals and couples need to prioritize estate planning. However, this is simply not the case. In fact, with the current federal estate tax exemption of $10.68 million for married couples and $5.43 million for individuals, estate tax is not an issue for the majority of individuals who need to begin the estate planning process.
Top Reasons Why You Need an Estate Plan
If avoiding estate tax is not a priority for you in the estate planning process, one or more of the following common reasons for estate planning probably apply in your case. …