Decision 2024: Navigating Potential Changes in Federal Estate Tax

As we approach the 2024 presidential election, it's crucial to understand the potential changes in federal estate tax that could impact your financial planning. In our latest Decision 2024 video, Dominic Ceci, Chief Investment Officer, hosted guests attorney Kelly Spott, O’Neil Cannon and Joe Maier, attorney and SVP of Wealth Strategy.

Here are the key points they discussed:

• The current estate tax exemption allows individuals to transfer $13.61 million tax-free, and $27.22 million for married couples. 
• This exemption is set to expire at the end of 2025, potentially reducing to about $7 million per person, adjusted for inflation. 
• Early and strategic estate planning is essential, especially with the potential reduction in exemption amounts. 
• Historically, the estate tax exemption has not decreased, even when anticipated. 
• Accurate asset valuation by a qualified appraiser is crucial to avoid overestimation of tax liabilities. 
• Political changes could significantly influence the direction of estate tax laws, making it vital to stay informed and prepared.

Additional Videos

For additional videos that deliver unbiased analysis and insights on the 2024 election and its impact on market dynamics, empowering you to make informed investment decisions.

No matter your goals, our experienced advisors work closely with you to build the right path to success.