Changing estate tax laws makes planning complicated for couple
Q: My wife and I are in our early 60s. We created our estate plan 20 years ago when the lifetime estate tax exemption was under
A: Clients and advisors alike have whiplash from years of constantly changing federal estate tax law. And you hear right: the law is due to change again! The 2017 tax act increased the lifetime estate tax exemption to
Don't base your decisions solely on tax considerations. Your finances, family, goals must be considered. What are your assets? How are they titled? Are there children you want to leave as much tax-free money possible? If they are adults, are they stable and responsible? Please take your existing estate planning documents, your detailed asset information and all of your concerns to a qualified estate planning attorney who will help you formulate a plan that factors in these issues as well as the fluid tax laws.
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