Blog & Publications

Anticipated Reduction in Federal Estate Tax Exemption: The federal estate tax exemption is scheduled to decrease from approximately $13.99 million to around $7 million per individual after December 31, 2025. It’s crucial to explore strategies to utilize the current higher exemption before it reverts to lower levels.

As the federal estate tax exemption is expected to shrink drastically by 2026, individuals are urged to take advantage of the current higher limit to shield their assets. Explore strategies before time runs out.

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New York Estate Tax ‘Cliff’ and Planning Strategies: New York imposes an estate tax with a “cliff” effect, where exceeding the exemption amount by more than 5% results in taxation of the entire estate. Implementing planning techniques, such as charitable bequests or gifting strategies, can help mitigate this impact.

Navigating the New York Estate Tax ‘Cliff’ can be complex, but with strategic planning, the impact can be softened. By utilizing techniques like charitable bequests and gifting strategies, individuals can safeguard their estate from hefty taxation.

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