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Tax law to mean more for heirs less for Uncle Sam
Inflation boosts wealth and changes in the 1981 tax law let more pass to heirs while cutting levies on estates. The revisions lift the estate tax free amount toward 600000, expand the unlimited marital deduction in 1982, raise gift tax exclusions, and alter home ownership valuation. Experts warn to plan for lifetime exemptions and consider tax effects on spouses and children.
MENTIONED IN THIS ARTICLE
Uncle Sam
Louise Cook
Associated Press
Congress
Herbert M. Paul
Touche Ross & Co
Paul
Touche Ross