Rebecca MacGregor, of Bowditch & Dewey, writes in a blog post that now is the time to make gifts for wealth transfer planning, in her article, Leveraging Gifts in a Down Market. Her article begins as follows:
Down markets are a prime opportunity for tax planning for high net worth families. In the few years following the 2008 recession, wealthy families took advantage of gifting options to transfer wealth and reduce taxes. Once again, in 2020, we have a down market, and if you have a taxable estate, you should consider taking advantage of this opportunity to transfer wealth by leveraging the down market, so your loved ones will pay less estate taxes upon your death.
To see full article, click: Leveraging Gifts in a Down Market – Don’t Tax Yourself
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.