How to Avoid Estate Tax Traps
Laura Saunders of The Wall Street Journal has a timely article related to how a couple can get the most from the federal estate tax exemption after the second spouse dies. Under current law, married couples can leave an unlimited amount to each other at their death. However, unless some estate planning takes place, when the second spouse dies, they could loose the $5.12 million exemption of the first spouse that can be transfered to the estate of the second spouse and therefore not be able to shelter from taxes a maximum amount of $10 million in their estate.
Read the entire article here: