Federal Estate Tax Exemption Is Set to Expire – Are You Prepared?

Maybe not tomorrow, but the sunset of our historically high estate tax exemptions is coming — and with the election on its way, it could be sooner than you think.

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A window of opportunity opened in 2018 when the Tax Cuts and Jobs Act (TCJA) doubled the lifetime gift, estate and generation-skipping tax exemptions to $11.18 million from $5.6 million. Adjusting for inflation, the current exemption this year is $11.58 million — the highest it has ever been.

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Chuck Cavanaugh
Head of Financial Planning, Citi U.S. Consumer Wealth Management

Chuck Cavanaugh is the Head of Financial Planning for Citi U.S. Consumer Wealth Management, where he is responsible for leading the financial planning team. The team works with clients to develop and implement financial plans, including estate & trust planning, charitable giving, intergenerational planning, business succession, secured retirement income, risk mitigation and wealth protection.