Too often financial matters are handled by only one spouse. Even if day to day matters are handle by one
Ohio Estate Tax repeal presents many new planning opportunities and requires a review and evaluation of pre-repeal planning. This posts discusses some new options.
Long notorius for having the lowest estate tax exemption of the 17 states with estate taxes separate from the federal estate tax, this repeal provides an obvious and significant tax benefit. From a more technical perspective, Ohio estate tax repeal also has many opportunities to better accomplish a client’s goals. This post outlines the need to carefully review formula provisions in existing trusts to be sure they accomplish the client’s goals.
The key here is to be organized. Much of the difficulty (and cost) in administering estates is tracking down the information.