Gettygetty The clock is ticking on the expiration, or sunset, of the 2017 Tax Cuts and Jobs Act, which nearly doubled the lifetime estate and gift tax exemption from its previous levels. For 2024, the exemption stands at $13.61 million per person and $27.22 million for a married couple. However, this is scheduled to revert back to 2017 levels, that may put the exemption amount at around $7.5 million per individual and $14.5 million for a married couple, depending on inflation over the next few years. For high-net-worth families, there are financial planning strategies to take advantage of today before the rules change. Doing so may save your family quite a bit on taxes. Let’s look at a few of these ideas to consider implementing for your family. 1) Charitable… Click below to read the full story from Forbes
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Wealthy Families: Consider These Planning Ideas Before The “Sunset”
