Blackletter

Tom discusses President Biden’s proposal for his Estate Tax plan. Tom covers what the proposal entails, including reducing the current lifetime credit each individual has from 11.7 million to 3.5 million, and increasing the estate tax from 40% to 45%. He contextualizes the proposal in relation to 2026, where the increased estate tax and the lifetime credit will automatically change. Tom encourages planning for everyone, even those who will potentially have an estate of 3 million by 2026.