How can I plan for marital deduction in estate planning?
An example of an AI chatbot conversation about planning for marital deduction in estate planning.
What is marital deduction in estate planning?
Marital deduction allows a spouse to transfer assets to the other spouse without incurring federal estate tax.
How can I effectively plan for marital deduction?
To plan effectively, consider setting up a trust, ensuring proper titling of assets, and consulting with an estate planner.
Are there limits to the marital deduction?
No, there are no limits on the amount that can be transferred between spouses, but it must be to a surviving spouse.
What documents do I need for marital deduction planning?
You'll need a will, trust documents, and possibly a power of attorney to ensure your wishes are carried out.
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