Robert Hartman had not looked at his will in 17 years. But when his first grandchild was born, he decided to update it, and he made a nasty discovery. A former assistant director for the Congressional Budget Office, Hartman, now 59 and retired, says, "I kind of knew" that only the first $600,000 of an individual's estate is exempt from federal estate tax. But, he says, "like most people, I didn't really focus on it. Then I sat down to do the math [on how much of his estate might go to the IRS rather than to his two sons] and...
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