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Unformatted text preview: person. b. 5 advantages that come with using a trust are, Trusts avoid probate, Trusts can reduce Estate Taxes, Trusts provide for confidentiality, Trusts allow for professional management. 5. What Generation Skipping Tax? And how can it be avoided? a. It is a tax on wealth and property transfers to a person two or more generations younger that the donor. It can be avoided by if you have the resources, you should make effective use of the $11,000 gift tax exclusion in addition to the education and medical expense gift tax exclusions provided in the law....
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This note was uploaded on 04/27/2011 for the course FIN 101 taught by Professor Daly during the Spring '11 term at Salt Lake Community College.
- Spring '11
- Personal Finance