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Tips From the Pros: How Long-Term Trusts Can Assist With Uncertainties Like COVID-19

Al W. King III explains why clients should take advantage of the transfer tax exemptions now before they’re lost.

COVID-19 has brought an unprecedented amount of health and economic uncertainty to everyone’s daily lives. As a result of this uncertainty, as well as increased mortality concerns, many individuals have accelerated implementing or updating their estate plans. The timing has never been better with the current estate, gift and generation-skipping transfer (GST) tax exemptions at $11.58 million per individual in 2020 ($23.16 million per couple). Additionally, extremely low interest rates provide


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