Home > Regions > North America > Estate planning update – Important tax changes ahead

Estate planning update – Important tax changes ahead

The information below was recently sent out to many of McDonald Hopkins’ estate planning clients. We encourage you to take a moment to read the information and stay tuned for further updates on estate planning ideas based on any developments to pending tax proposals. You can also click here for additional McDonald Hopkins insight on estate planning.

Even before last year, the historically high estate and gift tax exemption amounts were set to be reduced at the end of 2025. Then came the COVID-19 pandemic, the economic fallout of the pandemic, and the 2020 elections, which brought changes to both the White House and Congress. It now appears that significant changes in tax law, including reduced estate and gift tax exemptions, could happen sooner than expected. The information below covers some of the changes that have already occurred and some proposed changes that could significantly affect your estate plan. Read more…