Time may be limited on current federal transfer tax exemptions. Does that make now the right time to transfer wealth?


















Individuals can now pass $11.18 million to heirs, free of gift, estate and generation-skipping transfer taxes; for married couples that exception is twofold, or $22.36 million.

The Tax Cuts and Jobs Act of 2017 linked these exceptions to inflation, which means that they should continue to increase, albeit slowly, over the next few years. However, they will sunset in 2025 and the prior exemptions, $5.6 million and $11.2 million, respectively, will be restored. And that could happen sooner if the political climate changes.

The incentive to act soon is clear. That doesn’t make it an easy decision, however. Thoughtful, properly designed trusts can be a powerful tool in fulfilling a family’s long-term financial objectives, while avoiding cause for regret.


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