Explore the latest updates on gift and estate taxes for 2024 in this comprehensive guide by Bethel Law. Attorney Andrew Bethel delves into the new limits for annual and lifetime gift tax exclusions, estate tax exemptions, and the strategies to optimize your financial planning. Discover the increased 2024 gift tax limit, the rising lifetime gift tax exclusion, and the implications of the estate tax. Learn about state-specific estate taxes, the benefits of marital gift and estate tax exclusions, and the concept of portability in estate taxes. Stay ahead of potential changes due to political influences like the 2017 Tax Cuts and Jobs Act. This video is a must-watch for anyone looking to understand and navigate the complexities of gift and estate taxes in the coming year. Key terms: gift tax, estate tax, 2024 tax updates, lifetime exclusion, annual exclusion, IRS, tax planning, estate planning, Bethel Law.
00:00 - Intro 00:55 - 2024 Gift Taxes 03:15 - Estate Taxes (Death Taxes) 04:52 - Connection Between Gift and Estate Taxes 06:04 - Caution: Politics! 07:19 - Outro
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*Disclaimer* Viewing this video does not create the expectation of an Attorney-client relationship. The information from this video is for general information purposes only. Nothing should be taken as legal advice for any individual case or situation.
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By: Bethel Law Title: Gift Taxes in 2024: What''s Changing? Sourced From: www.youtube.com/watch?v=F_rAfgwdLZI
