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Tax Deduction Consulting: Marital Deduction Butte MT

While discussing the future, you and your spouse should look into the various federal estate marital tax deductions. Under this tax law, after the death of the first spouse, expenses and interest related to the estate inherited by the surviving spouse is deducted from the passed spouse's estate. Simply, this prevents the survivor from being taxed an unfair amount.

John Shellenberger
P.O Box 4758
Bozeman, MT
Company
Company: Estate Conservation Associates
Education
Franklin & Marshall College A.B.
Stanford University M.A.
Years Experience
Years Experience: 34
Service
Supplemental Medicare Insurance,College Planning,401k Rollover From Employer,Income for Life/ Preserve Principal,Medicare Planning,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Fee-Only Comprehensive Financial Planning,Long-term Care Insurance,1031 Exchanges,Wealth Engineering,Stock Market Alternative,Wealth Management,Life Insurance,Inves

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H&R Block Inside Russell Square Shopping Center
(406) 251-6020
1132 SW Higgins Ave Ste 210
Missoula, MT

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Newland and Company-A Professional Corporation
(406) 494-4754
2900 Lexington Ave
Butte, MT
 
Prigge Robert L CPA
(406) 723-3243
43 E Broadway St
Butte, MT
 
Associated Services
(406) 782-7225
1620 Harrison Ave
Butte, MT
 
Campbell and Associates,CPAs
(406) 728-9288
2505 S Russell
Missoula, MT
 
H&R Block
(406) 727-3577
7353 Goddard Dr Bldg 1150
Malmstrom Afb, MT

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Walsh Mary L CPA
(406) 782-1955
2035 Grand Ave
Butte, MT
 
Ricklyons CPA Pllc CPA
(406) 533-0701
3410 Harrison Ave
Butte, MT
 
Burt Patrick J CPA
(406) 494-4754
2900 Lexington Ave
Butte, MT
 
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Tax Deduction Consulting: Marital Deduction

Marital Deduction - Estate Tax

Next to the Alternative Minimum Tax, the Estate Tax is one of the more brutal taxes we have. The marital deduction, however, is one way around the estate tax.

When planning your estate with your husband or wife, there are key points to keep in mind. Luckily, the IRS has gone a long way in ensuring that the estate of individuals is able to be dealt with after death. While discussing the future, you and your spouse should look into the various federal estate marital tax deductions. Under this tax law, after the death of the first spouse, expenses and interest related to the estate inherited by the surviving spouse is deducted from the passed spouse's estate. Simply, this prevents the survivor from being taxed an unfair amount.

This helpful tax tool can be made useful in many ways. Depending upon the way your will is set up, this deduction can save the survivor much burden and cost. If following the rules and complying with requirements completely, this can prevent the surviving spouse from being liable for the deceased's tax liabilities. This gives the surviving spouse the ability to take his or her time in making important decisions for the left estate. It also gives the surviving partner the money that may be necessary to sustain life standards.

When making arrangements for imminent death, there are several ways to transfer the estate into the surviving spouse's name. You can either transfer by will or transfer by trust. If you transfer by will, it will be an outright transfer of the estate. While this is the most common way to handle estate transfers, it can also get a bit messier. The survivor will have complete control of the estate and outright ownership responsibilities. Although this sounds preferable, it also means that the surviving spouse will typically end up assuming pressures of maintaining and selling the estate.

Transferring by trust is a preferred method by many in law. With a trust, the spouse is given m...

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