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Will your hard-earned savings be hit with higher taxes?
Should you start gifting assets now?
See More:How Rich Is Former President Donald Trump?
Also see how Harris could impact the upper middle class, if elected.
Estate Tax Changes: Brace for Impact?
This could lead to increased focus on strategies to minimize estate taxes, such as gifting and charitable donations.
But dont panic just yet.
Anthony Termini, an expert contributor atAnnuity, reminds us that its not a done deal.
Check Out:Social Security: How Big Is Senator Lindsey Grahams Social Security Check?
Whats Your Magic Number?
George Pikounis, financial advisor atBurns Estate Planning, broke down the ideal number to have saved for retirement.
Cory Krueger, a Texas probate attorney, agreed.
They may also implement more regulations to close tax loopholes.
Green Is the New Black
Eco-conscious?
Evans pointed out that under Harris, there might be more of an emphasis on environmental policies.
Charitable Giving: Your New Secret Weapon?
Retirement Planning: A Weight Off Your Shoulders?
Klein also pointed out a potential bright spot for your golden years.
It is possible that a Harris administration could strengthen Social Security and other retirement benefits, she said.
He said people should start conducting regular reviews with anestate planning attorneyand stay informed about potential policy changes.
That will confirm their estate is in a good place, no matter who is in the White House.
Still, its smart to stay informed and consider tweaking your strategy.
Remember, estate planning isnt just for the ultra-wealthy.
Your future self, and your heirs, will thank you.
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