How to Protect Your Estate Plan Against the IRS
Planning where your assets will go when you're gone is complicated, and improper or neglected estate planning can create an extra burden for your loved ones in an already emotional time. But, Congress designed estate planning laws to be complicated to ensure they get what they deem as their "fair share." By planning ahead, your loved ones can focus on making the most of what you've given to them instead of trying to figure out how to fend off the IRS for a significant estate tax bill.
Join us as Wealth Manager and former estate planning and probate attorney Glen Rives, JD, CFP®, walks through estate planning strategies you can implement today to circumvent estate taxes in the future. He discusses the considerations and steps to these effective strategies while answering questions such as:
- Where should I put assets to mitigate the 40% tax bill upon passing them to my loved ones?
- How should I be thinking about distributing assets if they've appreciated in the current market environment?
- Which estate planning strategies should I be enacting today in preparation for potential tax law changes in the future?
- What's the most tax-efficient way to incorporate philanthropy into my estate plan for charities I support?
- Which estate strategies can magnify and grow my assets without a future estate tax bill?
You've worked hard for what you have, so why not make the most of it and leverage existing rules to ensure that you, rather than the IRS, can keep more of what's yours. Good estate planning isn't just about the legal documents, like a will or power of attorney — It's about strategic planning and projections on an annual basis to avoid ending up in a bind when things come up or laws change. You may miss out on valuable opportunities to make the most of specific strategies by waiting to start your estate plan. Don't delay. Start thinking about the best estate planning approach for your family today.
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