Why Now May Be A Good Time To Pass On Your Wealth

Posted on May 13, 2020

Reevaluate Estate Planning

As an estate planning attorney, I wish I had a crystal ball to help my clients plan for the future during these uncertain times. However, all we can do is plan for the here and now.

The fact of the matter is with all of this uncertainty around us, now may be a good time to reevaluate your assets and estate plan.

With the low interest rates, as well as the massive fluctuation in the market, this may be the perfect time to consider gifting assets to the younger generations or utilizing various estate planning tools while taking advantage of low evaluations.

Aside from this uncertainty, it is also important to remember we are in an election year.  What does this mean for your estate plan?  It means EVERYTHING. If Trump is defeated in November, Democrats intend to close any loopholes with the estate and gift tax exemptions in addition to lowering the exemptions. If the estate and gift tax are lowered, this would require many of us to reevaluate our estate planning documents to ensure the proper vehicles are being used to minimize the estate tax.

We strongly recommend you consult with a qualified estate planning attorney to better understand how these uncertain times affect you and your estate plan.

Need the Guidance of An Experienced Estate Planning Attorney?

Let us help you weigh your options. Call our office at 214-559-7202 or Contact Us to schedule a free consultation with one of our Dallas Estate Planning Attorneys.

 

Learn more about why some of the richest Americans are rushing to pass on their wealth now.

Lori Ashmore Peters
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Helping Dallas area families with all of their legal Estate Planning, Probate and Business Planning needs.