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Through our lives, we spend so much time worrying about making a decent living. Questions like, "Will we have enough for a new house? Can I afford that new car? Can I take that trip I've always wanted to take?"
Some traditional methods
of estate planning include:
These estate planning methods, while simple to implement, often fall short when discussing estates over $1 million. At that level, estate owners face a new variety of planning issues. One of the biggest
issues successful individuals need to worry about are estate
taxes.
For 2011 and 2012, Uncle Sam starts collecting taxes at the $5 million
level. Individuals with estates over $5 million are subject
to estate
taxes that soar up to 35%... and if you wish to leave money to grandchildren,
the estate taxes can reach almost 60%!
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