Revisit Estate Plans Ahead of Estate Tax Changes

With significant changes to the federal estate tax slated for next year, estate planning is becoming a hot topic for family offices.

Shannon Zur, director at Vogel Consulting Group, says she is hearing from estate planning attorneys that they are already busy with clients who are updating their estate plans in anticipation of the changes.

The current lifetime estate and gift tax exemption of $13.61 million per person is slated to sunset at the end of 2025, leading some to make major gifts, or revise their estate plans, now.

“The clients are taking advantage of utilizing that exemption,” Zur says. “And then they’re also revisiting their other documents and reviewing things.”

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A number of law firms, wealth advisors and advocacy groups are publishing detailed information about the pending changes. A sampling:

About the Author

Margaret Steen

Margaret Steen is the editor of FO Pro, The Family Office Professional. Based in Silicon Valley, she has written for Family Business Magazine for more than 15 years.


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