We find ourselves in a unique environment for wealth planning. The confluence of record low interest rates, high exemption amounts and an uncertain future for tax policy make it an important time to revisit your wealth plan.  In a new paper, we answer client questions about strategies to prepare your wealth plan for an uncertain future.

• RECORD LOW RATES – Families who intend to transfer significant wealth to future generations should consider employing techniques that are especially effective in this historically low rate environment for gift tax-free transfers of wealth.
• HIGH EXEMPTION AMOUNTS – The Tax Cuts & Jobs Act (TCJA) doubled the lifetime gift and estate tax exclusion. These provisions are scheduled to sunset at the end of 2025, reducing the federal estate tax exemption back to $5 million. A Biden presidency could bring additional changes to the estate tax earlier than the planned expiration.
• UNCERTAIN TAX POLICY FUTURE – Given the additional tax revenue required to support current deficit spending in light of the global pandemic, it may be prudent to prepare for the possibility of higher taxes in the future.

Download the full paper to learn more about how to take advantage of this window of opportunity.