Will a Living Trust Help Me Avoid Estate Taxes?

You have to be aware of estate taxes when you are planning your estate as a financially successful individual. These taxes can significantly impact the future of your family if you are exposed. As a resident of the state of Connecticut, you have two different estate taxes that you may be forced to address. There is a federal estate tax that people all around the country must contend with, and in Connecticut, there is also a state-level estate tax. A certain amount can be transferred before estate taxes would kick in. This is called the credit or exclusion. For the rest of 2015, the federal estate tax exclusion is $5.43 million. Each year there are inflation adjustments, so you will see a slightly larger figure year-by-year if the current laws remain intact. The Connecticut state estate tax exclusion stands at $2 million at the present time. Because the state-level exclusion is considerably lower than the federal exclusion, you could potentially be exposed to the Connecticut tax even i


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