It happens about two times a week, at least over 100 times a year. What? A reader of this column calls me with an estate planning question, but has no clue about the basics of the subject. So, this article is a keeper. Put it in a safe place, so you can refer to it when needed.
Estate planning basics
For 2016, every person is entitled to what is called a unified credit (we call it a "freebie") of $5.45 million As of today, 20 states have an estate tax; this area is in a constant state of flux Gifts can help divide family income by taking advantage of the zero or low tax bracket of one or more family members