You are probably not doing a complete and thorough plan unless you consider the ways in which state death (or inheritance taxes) taxes, federal estate taxes, gift taxes, and generation skipping taxes as well as income taxes individually and on trusts. These taxes are often interrelated. And, the best strategy for one person or family might not be optimal for another. This is also why your attorney, accoutnant and other advisors might need to work together. Here is a brief article on the taxes affecting estates. Click here.
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