This is the first in a three-part article that will provide 25 important year-end estate planning tips that people should follow. People are going to be looking for ways to minimize their estate taxes and fine tune their estate plans. It is important to remember that the annual gift tax exclusion is $14,000 ($28,000 for married couples), and people are going to want to plan their larger gifts accordingly. People should also know about the opportunities afforded by IRC Section 529. This article also discusses medical and educational exclusions, Roth IRA Conversions, and life insurance. Having an estate plan that has a strategy for long-term care is also extremely important. Asset protection techniques that protect people from lawsuit exposure is also discussed in this article. People are also going to need to include marital-family trust planning in their estate plan.
See Julius H. Giarmarco, 25 Year-End Estate Planning Tips (Part 1/3), Wealth Strategies Journal, December 14, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
