The property and present tax exemption (set at $13.61 million per particular person in 2024) is because of expire on Jan. 1, 2026. If Congress doesn’t act, that tax exemption will likely be minimize in half to about $6 million. To assist your shoppers put together for the true chance of a lowered exemption, you should talk about wealth switch methods with them and the potential of “clawback” (that’s, the IRS deciding that cash that your shopper has transferred will likely be thought of a part of the property for property tax functions). Our specialists will talk about what the sundown will imply in your shoppers and the right way to put together for that chance. They’ll additionally reply your pre-submitted questions.
CFP, CIMA®, CPWA®, CIMC®, RMA®, and AEP® CE Credit have been utilized for and are pending approval.
Audio system
Jody R. King, JD, CPA
Director of Wealth Planning
Fiduciary Belief Firm
James I. Dougherty
Accomplice
Dungey Dougherty PLLC
Susan Lipp – Moderator
Editor in Chief
Trusts & Estates
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