Colleagues of Seyfarth Shaw LLP have made available for download their article, “Year-End Estate Planning For 2022,” published in JDSUPRA. The abstract is as follows:
According to Bloomberg, nearly 2,600 estates paid $18.4 billion in estate taxes in 2021, nearly double the amount paid to the IRS in 2020. Fortunately, periods of market volatility and uncertainty present estate planning opportunities. The gift tax, estate tax and generation-skipping transfer tax are all imposed on the fair market value of assets at the time of transfer. In a bear market, lower valuations allow you to leverage your exclusions and exemptions, freeze the current lower prices of assets and pass on any future appreciation to the next generation. How can you take advantage?
Click here to view Seyfarth Shaw LLP’s summary of “Year-End Estate Planning For 2022”
Posted by Melissa Zheng, Associate Editor, Wealth Strategies Journal.