What Should I Keep in Mind in Estate Planning as a Single Parent?

What’s a Death Tax?

Sometimes people confuse the estate tax with an income tax, but it is not a tax on income. It is a transfer tax imposed on the wealthy at death.

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Estate Planning Hacks Create More Problems

My idea: put our accounts in my wife’s name and put the land in our children’s names. The way I figure it, when something happens to me, they won’t need to do any of that courtroom mumbo jumbo that costs a few thousand dollars. What’s your take on the workaround idea?

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