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What Financial Advisors Must Know About the New $11.2 Million Estate Tax Exemption

As many financial advisors may know, the new Tax Cuts and Jobs Act raises the estate tax exemption to $11.2 million for singles and $22.4 million for married couples, both figures being about double what they previously were.

For many Americans who previously were right on the cusp of being affected by the estate tax, this provides them with ample breathing room in their financial planning. But now, there is a different set of high-wealth individuals and couples who need comprehensive financial planning to minimize their potential estate tax burden.

Perhaps the best way for you as a financial advisor to strengthen the relationships you have with your clients is to begin having discussions about the legacy your client wishes to leave behind:

  • What will they leave to their heirs?
  • What will they leave to charitable organizations?
  • How will they set their business up for success even after they are gone?

A truly comprehensive financial plan requires a focus on estate planning as well. The implementation of various types of trusts to reduce taxable income and pass down assets to beneficiaries is a highly beneficial estate planning strategy that aligns with the financial planning goals of your high-income clients.

Please let me know if you have any clients you believe could benefit from my services.

Refer Your Clients to Celaya Law

Please contact us at Celaya Law Firm if you have any clients you believe could benefit from our services: (707) 754-0977.

Celaya Law is an estate planning law firm in Napa, California. Attorney Anthony Celaya helps families in Napa, Sonoma, St. Helena, Calistoga, and the surrounding areas with setting up wills and living trusts, special needs planning, asset protection, probate administration, business law, and retirement planning.

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