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estate tax changeNBC News
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81% Informative
The estate tax "sunset" of a generous provision in the estate tax next year has taken on new urgency as the odds of a divided government or Democratic president have increased.
Under current law, individuals can transfer up to $13.61 million to family members or beneficiaries without owing estate or gift taxes.
The benefit is scheduled to expire at the end of 2025 .
During a similar tax cliff in 2010 , so many families rushed to process gifts and set up trusts that attorneys became overwhelmed.
Advisors say today ’s gifters face the same risk if they wait until after the election.
“We’re already seeing some attorneys start to turn away new clients,” Lucina Lucina said.
VR Score
87
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