Before Dec 31, 2020, wealthy families need actionable ideas to use up their $11.58 estate tax exclusion with the benefits of top trust law states such as South Dakota for control and choice according to a report published by Wealth Advisors Trust Company. The Biden Tax Plan proposes reducing the current estate tax exclusion from $11.58 million to $6 million.
A team lead by family corporate trustee management expert, Christopher Holtby, has published a report about estate tax issues and solutions affecting the top 1% of wealthy families in America. The report concluded:
a) Current estate and gift tax exemption amount, inflation adjusted, highest level in 100 years.
b) Top 1% have tripled their net worth since the 2009 financial crisis.
c) November election results could reduce estate and gift tax exemption amounts by 50% or more.
d) Wealthy families use South Dakota trust law benefits to mitigate potential reduction.
e) These ideas and suggestions follow logical and simple processes.
Wealth Advisors Trust Company, based in South Dakota, revolutionizes trust administration with common sense.