Tax

Estate taxes are an important part of financial planning, especially for those who have significant assets they wish to leave to others when they die (Bradford, 2010). Wealthy individuals like John and Jane Smiley may be able to avoid the death tax, depending on how great a level of wealth they actually have. For those who are close to the threshold, as the Smiley's may be, it is very important for them to understand the death tax, so they can take any legal steps they choose in order to mitigate the level of tax they will be asked to pay. To that end, the Smiley's need to understand how much their estate can total before they need to pay the tax, so they will be prepared for any tax that will be left behind and the responsibility of their personal representative when they pass away. Since they have no...
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