Better Be Careful Where You Die

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Now that the confusion over the federal estate tax is resolved -- the $5 million exemption is now permanent -- you may think that’s the last you’ll have to worry about estate taxes and exemptions.

Wrong.

Each state has its own estate tax laws. So depending on where you live, your estate may not be taxed at all when you die, or a stiff tax may still be pending.

And each state’s rules keep changing from year to year, according to an article in Forbes magazine. The article includes a map that shows the rules in each state.

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Published In: Wills, Trusts, & Estate Planning Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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