Estate Tax Sunset: Setting The Record Straight
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- Опубліковано 11 чер 2024
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00:00 Estate Tax Sunset
1:04 Should I Take Action?
1:54 Can I Take Advantage of the Large Exemption?
2:26 The Anti-Clawback Rule
2:55 Example: No Gift
3:28 Example: $5 Million Gift
4:22 Example: $13.6 Million Gift
5:16 Three Scenarios For Married Couples
5:51 Married Couple With Less Than $15 Million
6:25 Married Couple With Between $15 Million and $40 Million
7:16 Married Couple WIth Estate Exceeding $40 Million
7:49 Use It Or Lose It
8:21 Laws Can Change
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The strategy explained to take advantage of the larger exemption amount before sunset is simple (gifting or putting into a irrevocable trust a big amount exceeding the post 2025 lower exemption amount), but the delima and hesitation is always there (loss of control, etc). But the biggest uncertainity beyond that uncertsinity is - What will be the future estate law? If you are going to live for another 10 to 30 years, how would you know what the estate law will be when you pass away? Will the exemption be even higher or lower? Will your estate grow to an amount the current exemption difference doesn't move the needle?
Nice video. Clear and to the point. Thanks
Glad you liked it
Hi! Just seen your notification! Thanks! Enjoy your weekend! 🤗🥰
Same to you
@@americasestateplanninglawy1946 🤗👍🏻
@@americasestateplanninglawy1946 Hi! I remember when doing tax , tell them about the estate, this will the first time doing taxes will estate in place! Thanks! Sorry! 🥰
Great video Paul!!
Thanks!
Good information for those with substantial estates. Larry, Bakersfield, Ca.
Thanks Larry!
Thanks for your videos! I’m going to law school in August and I want to be an estate attorney
You can do it!
If all of a parents assets exceed the new 2026 amount, and have all of their assets in a revocable trust, but is still alive, and so is their sole beneficiary (his only child) does the gift get registered for taxation when they put the assets in the revocable trust, or when they die? Or should they just gift the assets directly to their only beneficiary before Jan 1, 2026?
How does someone keep a habitat home out of probate
Is inflation great or what!
How does the couple gift the maximum asset to their child if their assets are in a revocable trust to avoid the new 2026 lower amount?
Get with a great advanced estate planning attorney. They may advise to file an estate tax return now to utilize your lifetime exemption up to $27M as a couple & gift that to an irrevocable trust. If some of the assets are familiy closely held businesses, they may also be able to discount the valuation of the business before gifting it, thus locking it away & all the future growth from estate taxes
Create a SLAT trust before sunset
@@ericchen1205 - Thank you, however it doesn’t apply to me since I don’t have a spouse.
@@MrChuckwagon55Do you have children? If not, you don't need to worry about estate planning. If yes, then move the assets in the revocable trust to an irrevocable trust with children being beneficiaries.