Despite the worry that the increase in the standard deduction under the Tax Cuts and Jobs Act would negatively impact philanthropic activities, charitable giving has continued to increase since 2018. This suggests that charitable giving is still important to many of your clients. Historically, 30 percent of charitable giving activity takes place during the holidays, so December is the perfect time to help clients incorporate their philanthropic desires into their estate plan.

Income tax rates play an increasingly important role in estate planning strategy as the federal estate tax exemption rises. In the late 1990s, the estate tax exemption applied to many more people than it does today. Today, it applies to only 0.2 percent of estates.

Whether it’s fighting over a complex multi-million-dollar estate comprised of multiple homes and exotic assets or simply a prized family heirloom, family disputes aren’t uncommon in the world of estate planning. These disputes can be complicated by sibling rivalries, beneficiaries of varying economic standing, and poor communication.