Title
p+pJulAug05-Final3
By
QuarkXPress: pictwpstops filter 1.0
Description
36 PROBATE& PROPERTY JULY/AUGUST 2005 State taxes are easily overlooked in estate planning. Most states have been “soak-up” (or “pick-up”) states imposing a tax equal to the federra estate tax credit for state death taxes (which was phased out as of January 1, 2005), so that minimizing federal estate tax also minimizes the state estate tax. Similarly, transactions that reduce the federal taxable income of a trust frequently minimize the state tax burden. If the attorney is not carefuul however, a...

Advertisement