Estate Planning Apocalypse

 

Join us as esteemed Vistage Chair Linda Goldstein sits in with top estate and asset protection attorney Harry Barth to reveal all the details behind the dramatic changes about to occur and what you can do today to take advantage of existing laws.

The Threats:

• The estate tax exemption is cut in half on January 1st, 2026 from current levels of about $14 million. So it's going to go down to about $7 million and the current tax rates are going up from 40% to 45%.

• The attack on the use of trusts and valuation discounts is a perennial threat, but is gaining momentum.

• Political winds are changing. There is much more talk in Congress on closing loopholes on the wealthy and taxing the rich. This is creating an environment for new and increased taxes on wealth.

What To Consider Now:

• Update current estate plan to make sure it survives the road ahead, and consider making large gifts and transfers to heirs to lock in current deductions.

• Utilize the large exemptions, utilize valuation discounts, utilize trusts and techniques available today.

• We have the most generous estate tax planning environment ever right now. That is soon coming to an end. Right now is the time to take action.