Section 9 Titling Critical

• Library: Trust and Estate Legislation 2012

It is critical for the effective operation of a marital formula estate plan for a couple to hold title to their assets in a particular manner. Ideally, each spouse should own or control assets with a minimum value equal to whatever the applicable exclusion amount is at any given time. For estate tax purposes, these assets should be owned in a manner

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whereby they will be affected by the husband’s or wife’s testamentary document so that the unified credit of the first spouse to die is fully utilized. With...