Estate Planning in 2016: Starting on the Right Foot

Last week we wrote about what you might want to do if with your estate plan now that 2015 is coming to an end and 2016 is about to begin. This week we wanted to focus a little more on the issues and changes that you might need to consider once 2016 begins. Every year can bring significant changes to estate planning laws, not to mention personal changes, and anyone with an estate plan needs to be prepared to amend his or her planning tools in light of such changes. Estate Planning in 2016. Estate Tax Exemption Increase The federal estate tax is one of the most commonly talked about estate planning concerns, even though it only affects a small number of people. Estate taxes are applied to the value of an estate left behind by a deceased person. Any estate with a value over the individual exemption amount has to pay tax on the value of property over that exemption amount. The amount each individual can exempt changes every year as the result of inflation increases, and can also change wi


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