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Yes, I have a trust to protect my waterfront home that my wife and I sold our two houses to purchase. What's wrong with that? Should my children be forced to sell it to pay the estate tax or should I use the tax system to ensure that my wife can continue living with a sufficient (read earned) income if I pass?
I am in no way "super wealthy" but have to protect myself just like everyone else lest I be forced to move into a smaller condo with Dr. Zhivago and friends...
Want to know about living trusts, I can explain. My wife has first trust...kids have second., protects them from paying 12% tax on estate above other taxes...at least that's what it does in Maryland. We are not as bad as Mass yet but getting close. I'll trade anyone a Hoyer for your Frank...
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