Legal Question in Wills and Trusts in Arizona
How to state amount to ''unified Credit'' when limit changes & exceeds desired a
With the amount that can pass estate tax free changing, and ultimately becoming ''no limit'',
how do we modify the wording in our trusts that pass the ''unified credit'' amount, when the increasing limit may actually increase to the point it exceeds the amount we wish to pass that way, and what do we say to cover the case where there is no limit, assuming that ultimately becomes permanent i.e. not reverting back to previous value of 650.
The wording to cover this case is what I am looking for, in order to amend current trusts.
1 Answer from Attorneys
Re: How to state amount to ''unified Credit'' when limit changes & exceeds desir
You may use in your trust only the wording which relates to the unified credit as the law allows, but you may also set a limit in the amount e.g. but not more than...
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