This is the best time I have ever seen for generational estate planning
- Interest Rates are at generational lows which provides extra leverage an flexibility in moving assets out of an estate
- Valuations for assets are low due to the recent market volatility, which means a well-thought out plan get more intrinsic value out of an estate.
- Estate Tax Exemptions are at all-time highs
- Federal and State finances are going to require more revenue implying an increase in taxes
- The elections in November could have a massive impact on the generosity and flexibility of the current estate tax climate
- States hard hit by the COVID-19 epidemic may face particular economic and social concerns that require extra funding. (New York is a good example)
- There is going to be a mad rush for a lot of families to accomplish their estate planning before the end of the year (and thus a mad rush around the advisors to implement this planning)
