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A One-Time Opportunity to Protect Your Estate

Thanks to the Tax Relief Act of 2010, for 2012, the lifetime gift tax exclusion increases to $5 million, while the estate tax exemption increases to $5.12 million. Unless Congress extends the Act, next year both the estate tax exemption and gift tax exemption amounts will revert back to $1 million. This creates what could be a one-time opportunity to protect your estate from taxes. [June 2012, 805 word article]

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