How to Avoid Making the Same Mistake Aretha Franklin Did.
The vast majority of folks are no longer exposed to the federal estate tax, thanks to today’s ultra-generous $11.18 million exemption for singles or effectively $22.36 million for married couples. Great! But being exempt from the federal estate tax is not the end of the story. If you have minor children and some assets (maybe just a car or two and some nice furniture), you probably need an estate plan regardless of your tax situation.