Now that the $5 million federal exemption is permanent,
estate planners need to refocus their energies—and their clients—on creating
estate plans that are less concerned with avoiding federal taxes and more
concerned with managing and maintaining wealth for current and future
generations. With that in mind, Patricia discusses the latest estate planning
trends that are here to stay, including
- Simplifying the estate plan – getting back to basics
- Focusing on state estate tax planning – the federal estate tax is no
longer the driving force behind estate planning
- Intergenerational planning – with federal estate taxes no longer a concern,
families need to have frank discussions about their goals, visions, and the future
of the family business
- Investment choices for dynasty trusts – it’s not enough just to create
the trust and transfer assets to it; you need an investment strategy
- Understanding the impact of double inheritors – in particular the growing
market of baby boomer women who will inherit wealth from their parents and
Click here to read all of Patricia’s advice and
recommendations in this month’s CPA Insider.
Note: Wealth Management Insider, previously a monthly
e-newsletter, has been folded into CPA Insider, which is a weekly e-newsletter.
Patricia’s articles will now appear monthly in CPA Insider.