Can You Retire at Age 55? Let’s Run the Numbers
Watch out: These estate tax moves could be banned within days
If you’ve got an estate worth more than $6 million—or $12 million if you’re married—and you’re working out how to minimize taxes when you die, then you should run, not walk, to a lawyer to put your plan in motion. Not only is the tax bill on Capitol Hill planning to close various “loopholes” and limit exemptions, but in some cases those loopholes will close, not at the end of the year, but the moment President Joe Biden signs the bill into law. As some of these clever maneuvers can take at least two weeks just to set up, the time to make a move is now.