Currently, each person can give $11.58 million during life or at death. However, that amount will be cut in half by January 1, 2026. It may go down even sooner according to my friend and colleague Steve Hartnett, an estate planning expert. Read on to learn why and how you should use it before you lose it.
Timothy P. Murphy is an estate planning and elder law attorney whose practice emphasizes helping people to build, preserve and pass on their wealth. He works with his clients to accomplish their goals while avoiding unnecessary court proceedings and minimizing or eliminating exposure to death taxes.
Latest posts by Timothy P. Murphy (see all)
- Taxation of Nongrantor Trusts - August 3, 2021
- Advantages of Using a “Grantor Trust” in Planning - August 1, 2021
- Beneficiary Designations and the SECURE Act: Prior Designations - July 17, 2021
