President Trump’s Tax Cuts and Jobs Act of 2017 nearly doubled the allowable exemptions to the estate tax that existed prior to 2017. This ensured that even fewer families would be affected.

The estate tax exemption for individuals increased from $5.4 million to $11.2 million, and the estate tax exemption for married couples increased from $10.9 million to $22.4 million.

Unless your estate is valued at more than $11.2 million, you do not have to worry about the estate tax at this time.

But for those who are affected, there are numerous estate planning strategies available that can greatly reduce the amount owed. We can advise you on the best options for your family.

Families with high-value estates face several complex legal and tax issues – estate tax is only one of them.

We offer a number of advanced estate planning strategies that are aimed primarily at reducing a family’s tax burden. In addition to minimizing or eliminating the estate tax liability, we also help you leverage the advantages of gift tax and generation-skipping tax to pass assets on for successive generations without risk of a tax liability decimating your estate at each generation.

Some of our most popular advanced estate planning tools and strategies include:

You have worked hard to build your family’s wealth and legacy, so it makes sense to put similar effort into protecting those assets after you are gone.

This includes protecting your assets against excessive taxes.

At your Family Wealth Planning Session, we can go into detail about how you can minimize the potential tax burden faced by your family so that you can maximize the inheritance you pass on to your loved ones.