The estate tax gets a lot of attention. However, it only affects 1% of American families.
There is a lot of political talk that goes on about the estate tax. However, the overwhelming majority of estates do not have enough assets to even begin to worry about having to pay it. For those who have enough assets, there are things you can do to avoid paying any estate tax, according to the Marco Eagle in “Tax Secrets: Slay the estate tax monster.”
If you go to an experienced estate planning attorney, you will most likely be presented with several different options to minimize any estate tax burden on your estate.
The estate tax can often be avoided completely.
It is all a matter of how you structure your estate plan and what other things you want to accomplish with your plans.
Some states also have estate taxes, so merely avoiding the federal estate tax will not necessarily help you avoid all estate taxes.
An estate planning attorney can assist you in creating an estate plan that fits your specific circumstances taking into account estate taxes.
Reference: Marco News (August 20, 2017) “Tax Secrets: Slay the estate tax monster.”
