Taking a Pause
At long last the election is over (although we have a feeling that it's going to continue to be in the news for quite some time).
Now we will see if proposals floated during the election are actually pursued. As I've shared previously, what matters really are items such as taxation and regulation.
One item that we are watching is the sunset provision estate issue. The estate exemption is scheduled to fall significantly at the end of 2025. Will that actually happen? We will see.
A recent article highlighted this issue. See excerpts below.
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"The increased estate and gift tax exemption, which is currently $12.92 million per person and increased to $13.61 million per person for 2024, is set to sunset at the end of 2025. As a result, the exemption will drop back to the prior Tax Cuts and Jobs Act (TCJA) level of $5 million, adjusted for inflation."
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Source: https://www.mossadams.com/articles/2023/11/increased-estate-tax-exemption-sunset-options