Given this potential change, it is advisable for individuals with at least $6 million in assets ($12 million for married couples) to revisit their estate plans.
When it comes to structuring your estate plan to avoid estate and gift taxes, you have several options to consider, including Family Trusts, Gifting Plans, Life Insurance Trusts, Grantor Retained Annuity Trusts (GRATS), and Spousal Limited Access Trusts (SLAT) to name a few. To make the most informed decision tailored to your specific circumstances, it is advisable to speak with your attorney.
A good estate plan requires vigilance, and we strongly advise revisiting your estate plan regularly to ensure it remains aligned with any changes in your family status or financial circumstances.
Contact Hackstaff Snow Atkinson & Griess, LLC to assist you in crafting or updating your estate plan to meet your and your family’s specific needs.
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