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Mistake #3: Leaving Everything to Your Spouse

It seems natural to pass everything on to your spouse. By keeping all of your assets in both names, your spouse may take full ownership — tax-free — of your assets upon your death. But when your spouse dies, there is a limit on how much he/she can leave of your assets to heirs. The good news is that the limit has increased in recent years, from $2 million in 2006-2008 to $3.5 million this year.

Next: Mistake #4