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 is 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.
Do You Need To Speak With An Experienced Estate Planning Lawyer In The Dallas Area?
If you need to speak to an experienced estate planning attorney please contact us online or call our Dallas office directly at 214.559.7202. We help clients throughout the Dallas area with all of their estate planning needs and look forward to helping you.