State death taxes can be hazardous to your estate

Description

Abstract: Now that the federal gift and estate tax exemption is permanently set, many people are feeling more relaxed about the need for estate planning. But it’s important not to overlook state death taxes. Without planning, these taxes could generate significant tax bills for a family. This article discusses such tax-minimizing strategies as credit shelter trusts, gifting, and even relocating to another state. A sidebar discusses another strategy: the spousal lifetime access trust (SLAT).