Word: burden
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...That way no one staff has to bear the burden,” she said...
...federal system. "Now those states will be imposing a tax equal to what the state death-tax credit used to be," says Lawrence Chane, an estate-planning attorney with Blank Rome in Philadelphia. "But because there won't be a credit against the federal tax, the overall tax burden for families in those states is going to increase substantially...
...estate was more than $1 million, you would face even higher federal and state taxes. This year's top federal estate-tax rate is 49%, though the wealthiest estates could wind up paying as much as 57% in federal and state estate taxes in decoupled states. Chane says the burden is "particularly acute" for married couples because their estate plans usually include what is known as a bypass or credit-shelter trust, which is designed so that no tax is paid when the first spouse dies. Yet this standard strategy can't shield an estate from the extra state...
There are ways to rewrite your will or trust to defer that state tax, but you need to make sure that in doing so, your estate won't face a greater federal tax burden down the road. Portland, Ore., couple Betty and Les Barkley put a disclaimer in their will so that the surviving spouse could delay paying taxes by refusing to accept a portion of the estate. Another approach is to claim a special marital tax deduction. Giving away enough money to bring the taxable estate below the federal and state thresholds or moving to a state that...
...With the burden of preparing a tailgate barbecue on Yale’s dining services this weekend, Allen said that HUDS was experimenting with spreading the baking out over the whole weekend—and even looking to increase their output in the future...