Trump's Tax Cuts Made Permanent: Estate Planning Boost
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Show Notes
Permanent Tax Cuts: A Game-Changer for Estate Planning
The recent legislation has made Trumps first-term tax cuts permanent, with a significant focus on estate taxes. The exemption has been increased to fifteen million dollars per person this year, thirty million for married couples, and will continue to rise with inflation. This means that your full estate can pass tax-free on death, providing high-net-worth individuals with planning peace. However, those over the exemption limit still face a forty percent federal tax. Tools like lifetime gifts and annual tax-free gifts can help manage this. Its recommended to review and update estate strategies with an advisor to maximize these benefits.
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