Tax Mark L. Epstein Epstein & Friedman San Francisco, CA 415 / 896-2990 mlepstein@ msn.com		If I already have a Bypass or Exemption Trust in my estate plan, do I need to be concerned about the increase of the estate tax credit (equivalent) from $675,000 in 2001 to $1 million in 2006? Yes. Congress has already authorized the increase, in steps. If your future Bypass or Exemption Trust is to be funded with assets equal to the estate tax exemption, and it will go to someone other than a surviving spouse, the natural concern would be for the surviving spouse: will there be sufficient income and assets for his or her lifetime?

Advice provided herein is presented as general information about recent legal developments. Information is edited to space and should not be construed as specific legal advice or opinion.

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