Taxes can damage your estate’s total worth if you do not prepare in advance. Everyone’s financial situation is different, which requires unique estate planning to meet your needs.
The estate of high-net-worth individuals and couples could face a 40 percent federal estate tax on any money that exceeds the federal estate tax exemption. The exemption for 2024 is $13.61 million, but it could revert to about $7 million at the end of 2025. It makes it essential to take advantage of it now.
