Estate Taxable?

Your Estate May Not be Taxable?

2010 Tax Act does let you pass $5 million to beneficiaries without tax--but only until January 2013 when the $1M exemption  kicks in absent new legislation. 
In addition, for deaths in 2012 or 2013 you can combine exemptions with our spouses to get to $10 million to pass tax free. 

The Tax Act does not plan for our own incapacity and eventual deaths and our children's futures-key attributes of estate planning.  

Still need to: 
  1. Appoint guardians for your minor children   
  2. A successor medical decision makers 
  3. Appoint someone trustworthy a fiduciary to be trustee, executor and agent of your durable power of attorney
  4. Appoint your beneficiaries
  5. Consider using a family trust for asst protection