As of February of 2010, the United States enjoyed more than a month of complete repeal of the federal estate tax. Before its repeal, the federal estate tax was almost as old as the U.S. income tax which required the 16th Amendment to the U.S. Constitution to adopt. The 2010 repeal of the federal estate

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Tax attorneys work daily to create income tax schemes that wind up being incomprehensible to most people. Along with this, accountants devise incomprehensible rules and regulations regarding the gift and estate tax. Luckily, the inconsistencies between income tax rules (one part of the Internal Revenue Code) and the gift and estate tax rules (a different

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Postpone making any changes in your life – i.e., selling your house for one year. Give yourself some time to regain emotional equilibrium; do not do anything “out of character”. Collect the documentation needed to settle your spouse’s estate. This includes bank statements, current tax information, insurance policies, investment records, property deeds, and the will.

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If you have residences in more than one state, it is important to determine in which state you wish to establish your legal domicile. Your choice of domicile carries with it various important consequences. For example, domicile often determines jurisdiction to (i) assess state income and death taxes, (ii) probate wills and administer estates, and

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