Estate planning was once a concern reserved for the uber wealthy. Times have changed, as current exemptions of $14 million per individual or $28 million per couple are set to expire on 31Dec2025. If Congress and the President do not act these exemptions will revert to previous levels of $7 million and $14 million. This change will effect current retirees who were not concerned with planning and are now above the $7/$14 million level. More young and middle aged people will be affected as a combination of increased earning power, inheritances and about average growth prospects will vault them into this situation. Ira discusses on TriathlonTV's two episode series on estate planning how to maximize the wealth transfer to your beneficiaries.
Assets can be divided into three categories for estate planning purposes, income, appreciation and windfall. Not all asset types are treated the same, and even the same asset is treated differently whether it is inside or outside of your estate. The differences are explained and strategies are discussed to maximize your estate planning.
Click on the video links below to watch the two part series on estate planning. Our goal as your advisor is to engage, educate and empower our clients to make confident decisions that best fit their objectives. Triathlon Partners likes STUF, Subcribers, Thumbs Up and Followers are greatly appreciated.
Additional resources
Tax-Apocalypse: Take Control of your Legacy
The Rule of 72: Double the FUN !!
What is the Correct Amount of Life Insurance
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