The lifetime gift tax exemption is at an all-time high of $11.7 million per individual and $23.4 million per couple but may be reduced in the near future by potential legislation. This video provides an overview of the Spousal Lifetime Access Trust and how it can help couples maximize their lifetime gift tax exemption.
If you donate to charitable organizations, you might want to consider establishing a donor-advised fund. A donor-advised fund is a charitable tax-saving tool that enables you to maintain a certain level of control over how funds are distributed while receiving immediate tax benefits.
With recent tax changes, it is important to make sure that you are making good choices as it relates to your Estate Plan. The Internal Revenue Service recently increased the estate tax exclusion. While this can be a big benefit, it's important to have strategies in place to ensure you are protecting your assets.