Harriet and Josh are husband and wife and have several adult children. Harriet has a net worth in excess of eight million dollars, while Josh’s assets are negligible. Suggest several planning procedures that will maximize the use of estate exemption equivalents (i.e., bypass amounts) in transferring Harriet’s wealth to the children under the following assumptions. Remember that the 2014 exemption for estate taxes is $5,250,000.

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Transfers between spouses at death are unlimited if the recipient spouse is a US citizen or becomes ... View the full answer