In 2024, wealthy taxpayers will be able to transfer a maximum of $13.61 million under the Tax Cuts and Jobs Act without paying any gift or estate taxes. That will drop to $5 million per individual, indexed for inflation, if Congress takes no action before Dec. 31, 2025.

Over the next two years, we can avoid donor’s remorse and bad blood with our clients by looking at their individual circumstances to determine whether using the exemption is advisable.

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