SIXTH, TAXES - You want to avoid or, at least, reduce death taxes. In many states, there is an inheritance tax on your property. The amount of that tax depends upon whom inherits your money. At the Federal level, estates in excess of 3.5 million are subject to taxation upon death. Almost 1/2 of your property could be paid over in federal estate taxes without proper planning. At present, the federal estate tax law is in flux. You should consult an estate planning attorney regarding a will and make sure your money is not depleted by taxes.
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