citybizlist : Washington DC : 2020 Election: Prioritize Estate Planning

For some, now may be the best time to take advantage of estate planning for tax mitigation. With record high gift and estate tax exemption, near record low interest rates, and depreciated assets as a result of the pandemic, Americans are in a unique position to take advantage of the estate planning strategies. But there’s no guarantee how long it will last.

Under the current law, an individual can give away USD 11.58 million (USD 23.16 million for married couples) to others during his or her lifetime or at death without being subject to gift or estate taxes (which have a top tax Federal rate of 40% for amounts over USD 1 million).

citybizlist : Washington DC : 2020 Election: Prioritize Estate Planning

This post was written by .

Published .

Posted in: Estate AttorneyEstate Planning

Tagged:

Comments are closed.