Young Adults Increase Demand for Estate Planning Services

By WealthCounsel Staff on Oct 1, 2021 10:00:00 AM

millennial

Estate planning services are in high demand as a result of the COVID-19 pandemic. Surprisingly, young adults are more likely than their middle-aged counterparts to have a will. This demand presents a unique opportunity to offer estate planning services to the eighteen to thirty-four year old demographic, as well as their older counterparts whose planning efforts are lagging behind.

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Year-End Planning with SLATs: 5 Key Points For Planning, Drafting, and Funding

By WealthCounsel Staff on Sep 24, 2021 10:00:00 AM

Year-End

The Tax Cuts and Jobs Act of 2017 (TCJA) doubled the federal gift and estate tax applicable exclusion amount (referred to here as “exemption”) from $5 million to $10 million (adjusted for inflation). In 2021, the federal gift and estate tax exemption is $11.7 million, which generally means that an individual can transfer $11.7 million of assets before having to pay a gift or estate tax (at a maximum rate of 40%). Unless new legislation is passed, this exemption will reset to $5 million (adjusted for inflation) on January 1, 2026. 

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