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Here are predictions for inflation if Trump wins.
Estate Tax Exemption: Going Up, Up, Up?
Trump has been supportive of maintaining or increasing the estate tax exemption, he said.
Evans adds that this could mean higher thresholds for estates before taxes apply, benefiting the very wealthy.
But just how high could it go?
The Shell Game Gets Easier?
Anthony Termini, an expert contributor atAnnuity.org, cuts to the chase: Estate planning is a shell game.
It means giving up ownership of assets without really losing effective control.
What might this look like?
Termini suggests it would come in the form of considerably higher lifetime gift tax exemption.
He also believes that the annual gift tax exclusion will be increased substantially.
federal estate and gift taxexemption.
But dont pop the champagne just yet if youre not in the millionaires club.
Klein added, It would not benefit the majority of Americans.
Business Owners, Get Ready
Own a large business?
Evans thinks you might be in luck.
Healthcare Wild Card
But its not all smooth sailing.
Capital Gains: A Win for Your Wallet?
If youre selling inherited assets, you might keep more cash in your pocket.
Step-Up in Basis: The Inheritance Hack That Could Stick Around
Ever heard of step-up in basis?
Krueger said people should conduct regular reviews with anestate planning attorneyto stay informed about potential policy changes.
No matter what the political climate, you would be smart to stay on top of your estate.
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