The following wealth transfer articles are written and provided to you by NW Securities Advisors' founder and principal Mr. Stephen Brown.
Steve specializes in helping high net worth clients optimally manage and transfer their wealth to their next generation.
The Tax Cuts and Jobs Act of 2017 created a window of estate tax exemption originally expiring on January 1, 2026. For now, a married couple can transfer $23.4 million without having to pay gift or estate tax.
Compromise legislation in the Build Back Better Act may move the sunset of this window up to January 1, 2022.
Whether it happens at the beginning of 2022 or 2026, this window will shrink from $23.4 million back to $11.7 million.