Many wealthy individuals are asking that question out of fear that the historically high estate/gift tax exemption of $11,580,000 ($23,160,000 for a married couple), indexed annually for inflation, could be significantly decreased prior to its scheduled “sun-setting” on December 31, 2025 to $5,490,000 (indexed for inflation) if the Democratic party sweeps Congress and the White …
Beneficiary Designations
ATTENTION TO DETAIL! You would think that this space need not be taken up with a reminder of the obvious importance of beneficiary designations for life insurance policies and retirement accounts (qualified and non-qualified). But those of us who practice in the trusts and estates area are frequently reminded, through painful experiences with clients, that …