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July 2018 Archives

Does the new tax law make my estate plan obsolete?

If you have not updated your Minnesota estate plan since the new Tax Cuts and Jobs Act went into effect on January 1 of this year, you may wish to do so. One of the TCJA’s major provisions is the doubling of the federal estate tax exemption which increased from $5.9 million to $11.2 million for an individual. For married couples, the federal estate tax exemption is now $22.4 million.

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