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A Cautionary Tale

Most executors know that there need not be estate tax for decedents dying in 2010. Therefore, many executors believe that the estate administration process is easy, as in, No estate tax, no action. Wrong and scary. We recently had an estate of about $5.5 million, consisting of a few blue chip stocks that the decedent had owned for a long period of time (translation: low basis).
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Most executors know that there need not be estate tax for decedents dying in 2010. Therefore, many executors believe that the estate administration process is easy, as in, “No estate tax, no action.” Wrong and scary.

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