Estate planning for attorneys – 5 tax-efficient tools to transfer personal wealth
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Description
Abstract: The Tax Cuts and Jobs Act (TCJA) almost doubled the federal gift and estate tax exemptions. But the increased exemptions are scheduled to sunset after 2025. This article provides some tax-efficient methods that attorneys may want to consider for transferring their wealth. A brief sidebar looks at how the SECURE Act changed rules for inherited IRAs, as well as changes under proposed IRS regulations.
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