Property tax exemption creates alternatives for households to reward plan

Craig Ruffolo

By Craig J. Ruffolo and David White

The potential for change in varied tax charges is heightening the attention of property taxes and elevating questions on gifting methods for households. Low rates of interest and, in some instances, decrease asset values attributable to present occasions have created an actual alternative to switch wealth in reward planning. Whereas there are numerous methods that work in life and at demise, there’s one which if not used now, you’ll lose it. 

As of 2021, the property tax exemption, or the quantity an individual can switch at demise with out incurring federal property taxes, is $11.7 million. An individual can select to attend till demise to bequeath it or give that quantity to household throughout their lifetime. 

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