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Author: ResN Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75383  
Subject: Re: Talk me out of a Financial Advisor Date: 6/5/2013 10:12 AM
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2gifts, in re-reading your response, I see that you actually were talking about what would happen if the husband left $5M in trust for the daughter prior to his death, which would reduce the estate tax exemption for the surviving spouse from potentially $10M to $5M (since the husband would have already used up his $5M). I think you're right about that. This is why I suggested gifting to the trust during the parents' lifetimes up to the annual max for each parent per person, which would be around $28K combined per year at current levels, and this amount would not then be subtracted from either parents $5M exemption, thus saving a total of $10M for the surviving spouse to pass to the daughter free of estate taxes.
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