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Never Overlook the Need for Inheritance Tax Planning
March 26th, 2009 by admin
A recent experience really got me thinking about my estate planning or lack there of. My wife and I have always had a will and life insurance. Those two things have always seemed mandatory once you begin having children. We only a commercial property and two houses; the one we live in and a house that we rent in order to supplement our income. My uncle recently passed away and had his estate set up much like we do. It was a real eye opener to the whole family when his children realized that they would have to pay significant taxes in order to take possession of the homes. I never really understood the importance of inheritance tax planning until now.
