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 can be reduce in half to about $6 million. To assist your shoppers put together for the actual chance of a decreased exemption, it is advisable talk about wealth switch methods with them and the opportunity of “clawback” (that’s, the IRS deciding that cash that your consumer has transferred can be thought-about a part of the property for property tax functions). Our specialists will talk about what the sundown will imply on your shoppers and easy methods 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
Companion
Dungey Dougherty PLLC
Susan Lipp – Moderator
Editor in Chief
Trusts & Estates
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