Garret has created an exemption trust which leaves exactly $2 million to his husband in anticipation of his income needs.
An arrangement known as a business will typically take the form of a buy-and-sell option. It guarantees a smooth transfer of ownership in the event of a business owner's death, total and permanent disability, or trauma.
A married couple's estate can significantly cut or completely avoid federal estate taxes by establishing an exemption trust. This kind of estate plan creates an irrevocable trust to hold the assets of the first to pass away spouse.
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