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Seven Reasons to Start Planning Before Exemption Change

Seven Reasons to Start Planning Before Exemption Change

Use it or lose it.

As most advisors are aware, the lifetime exemption from federal gift, estate and generation-skipping transfer tax will rise to $13.61 million in 2024. Practitioners should educate clients about the benefits of planning before the exemption is cut in half by operation of law in 2026, or earlier, depending on the outcome of the 2024 federal elections. 

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