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Asked 3 months ago - Fort Walton Beach, FL
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The parties live (/d) in N.C.
This is a several million dollar estate.
Thank you.
Both the federal and North Carolina estate taxes have unlimited marital deductions, meaning that property passing outright to a surviving spouse will not be subject to estate tax. I recommend consulting with an attorney about the advisability of filing an estate tax return to preserve the unused exemption of the first spouse to die.
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