The federal lifetime gift and estate tax exclusion will increase for 2023, with possible increases for 2024 and 2025. However, these high thresholds are only temporary, unless there is a change in tax law.
The government has announced a change that may help ease the pain for those who depend on Social Security, along with two others that will affect those who are still working.
With nearly 90% of caregivers providing care to a family member, and the holidays rapidly approaching, it is an opportune time to check in with both aging family members, as well as those performing caregiving duties.
An estate plan works like the operating system on your phone or computer. It runs in the background. However, it needs occasional updates to keep the plan current.
