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Should You Be Worried About the Death Tax?

Will your estate be subject to the death tax? How can you plan accordingly now?

(Want to jump ahead in the episode? Click the featured times below to skip to a specific section.)

What You’ll Learn:

Between Federal income tax and state income tax and a whole list of other taxes, it’s hard to keep it all sorted. As states are hurting for revenue, taxes will likely continue to go up. Are you worried about the death tax?

What does Brian tell his clients when they ask about what to do to plan for the death tax? Based on current legislation, it’s far from concern for the average person, at least until 2026. What has Biden called for though?

What percentage would you have to pay in tax if you exceeded the limit for the tax? Brian talks about clients who have faced this predicament. What do you do if you’ve saved well and plan to pass your wealth to the next generation? What if your estate is not just in stock market investments, but in land and real estate?

Have you looked at a trust? Or putting some of it into life insurance? What about gifting some of your money now? We don’t know what taxes will be in the future, but you do know what it is now. There are still ways to plan for the future. Do you have a will and estate plan?

Listen to the entire episode or click on the timestamps below to skip ahead to a particular segment to learn more.

Key Moments:

[0:12] – How can you plan for the death tax if needed?

[2:09] – 17 states to potentially impose estate tax. Why?

[4:53] – What clients has Brian seen grow and build their wealth?

[7:07] – What can you do to pass your estate to the next generation?

[7:58] – Why do you need a will and estate plan now?

The Truth:

“Do you start planning? Yes, you need to start planning now because of your family.” – Brian Bowen

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