You are here: Home FAQ FAQ Understanding Who Should Be Beneficiary of Your IRA 16. What can I do about estate taxes?

16. What can I do about estate taxes?

You can reduce your taxable estate by giving some assets to your loved ones now, often at discounted values. You can buy life insurance to pay estate taxes at a reduced cost. And, if you are married, make sure you use both your estate tax exemptions by utilizing credit shelter trusts or making a portability election at the death of the first spouse (assuming the first spouse did not use up his/her entire lifetime exemption).


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