Ask the experts: Prepare the high estate tax exemption

The estate and gift tax exemption (set at $13.61 million per individual in 2024) will expire on January 1, 2026. If Congress does not act, that tax exemption will be cut in half to about $6 million. To help your clients prepare for the very real possibility of a reduced exemption, you should discuss with them estate transfer strategies and the possibility of a “reversion” (ie, the IRS deciding that the money your client transferred will be considered part of the property for property tax purposes). Our experts will discuss what the sunset means for your customers and how to prepare for this possibility. They will also answer your submitted questions.

CLE, CIMA®, CPWA®, CIMC®, RMA® and AEP® CE credits have been applied for and are awaiting approval.

speakers

Jody R. King, JD, CPA
Director of Estate Planning
The Trust Company