Articles

Home » Estate Planning » The Estate Tax: What Does It Mean for You?

The Estate Tax: What Does It Mean for You?

Now that Donald Trump has taken office as the President of the United States, many are wondering if he will make good on his promise to repeal the Federal Estate Tax. For now, the question remains unanswered; but if it is repealed, how will it affect the average American? The answer is…not much. As it stands, the Estate Tax impacts only the wealthiest of Americans; in fact, only 0.2 percent of estates are impacted by the Estate Tax. If you do fall into that category, it’s still important to evaluate your Estate Plan prudently. The Estate Tax has been through multiple changes historically and any changes made under the Trump administration could very likely be changed in the next election cycle. It’s a strong possibility that changes to the Estate Tax will be temporary. Whether or not the Estate Tax directly impacts  you, we advise you to remember that Estate Planning is so much more than tax planning; it’s ensuring that all of your affairs are in order and accounted for so that your personal legacy goals are met.

Archives

Book a Consult

The fastest way to determine a path forward in your estate planning is to schedule an appointment for a consult with StoneMyers Law. We'll take the time to listen to your desires to leave a legacy for your family and come up with the right plan to make that happen!

Estate Planning

There are many moving parts with Estate Planning, and our team will help you confidently navigate the process. We will expertly guide you through the process and show you every rock in the river along the way.

Learn More >

Probate of Estates

Probate is the legal process of distributing the assets and estate of a deceased person. This includes resolving all probate property issues like taxes, insurance, title, and paying creditors for any outstanding money owed by the deceased.

Learn More >

Business Consulting

Starting a business is a big step, and we are here to help make sure you are taking all of the steps needed during startup and formation to do it right. Let us help you achieve your business goals.

Learn More >