Estate planning is an important part of year-end planning as taxpayers seek to manage the distribution of assets as and meet any state tax requirements.
Consider reminding parents that having everyone together at holiday gatherings can be a good time to address some key planning topics.
Despite progress on marriage equality and workplace protections, some in the LGBTQIA+ community face challenges around finances and other legal issues.
Potential changes to stepped-up cost basis rules may emerge as lawmakers consider federal revenue needs.
Most advisors are closely monitoring tax policy as it is not yet clear what proposals around estate taxes will be introduced on Congress’s agenda this year.