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Given a Joe Biden presidency, the estate tax is likely to affect many more American families.
We have no idea how much more families will pay in estate tax. And we don't know how far the estate tax exemption will be reduced to.
What we do know is that you are limited in how much of your estate you can transfer to your heirs during your lifetime without having gift or estate tax consequences. So it may make lots of sense to engage in 2020 gifting - even though today your estate would not be subject to the federal estate tax.
For prospective law firm clients who want to schedule a free 30 minute initial phone call with Paul Rabalais, go to:
This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.
Paul Rabalais
Estate Planning Attorney
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By: America's Estate Planning Lawyers
Title: Urgent: President Biden and Estate Tax
Sourced From: www.youtube.com/watch?v=f9-oMepVUHc
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