Episode 50: Changes to Estate Tax Exemptions with Heather Walser
by Financial Design Studio, Inc. / September 6, 2024Estate planning can be as much about taxes as it is about beneficiaries. With the Tax Cuts and Jobs Act of 2017 sunsetting in 2025, there are going to be significant changes to the Estate Tax Exemptions. In this episode, Heather Walser, a shareholder and the lead estate planning attorney at Lavelle Law, shares the changes coming to estate tax exemptions and how people can prepare their estates.
Take a listen right here, or head over to your favorite steaming platform!
Key Moments
2:40 Who is impacted by Estate Tax Exemptions?
4:50 About the Tax Cuts and Jobs Act of 2017
11:52 How to value your total estate
19:53 Know your Net Worth
24:37 What tools can you use to plan?
31:28 What’s the timeline of these planning decisions?
36:00 How do the exemption limits impact retirement accounts?
43:33 Miscellaneous observations and closing thoughts
Links Related to Life Insurance Policies
Learn more about Heather Walser, shareholder and lead estate planning attorney at Lavelle Law, here!
Find out more about Lavelle Law, their attorneys, and legal services at their website here!
For Heather’s 101 on estate planning, take a listen to Episode 25, “Creating Successful Estate Plans and Strong Family Relationships.”
Watch this video to learn what ways you can change your net worth.
Read our article “What Are the Latest Inherited IRA Rules?” or watch our video, “Inherited IRA Distributions POST Secure Act (2020).“
Read more about the ways we help our clients think through their estate plans.
Stay Connected!
If you want to hear even more episodes, like this one, be sure to subscribe to the Behind the Designs podcast on your favorite streaming platform! The Behind the Designs podcast shares with you an inside perspective at how financial advisors think about money. We’ll see you in the next episode.
Credits for Episode 50
Host: Michelle Smalenberger, CFP®
Guest: Heather Walser
Executive Producer: Anna Lewis
Ready to take the next step?
Schedule a quick call with our financial advisors.
Recommended Reading
Ep 75: How to Decide When to Move into a Retirement Community
In this episode, Michelle interviews Royce on the process of downsizing, picking the community, and what her family's experience has been.
Ep 74: Is Your Marriage Ready for Retirement?
In this episode, Michelle interviews Dave and Diane about how they built their finances together and are now preparing to retire together.
Financial Design Studio, Inc.
We are financial advisors in Deer Park and Barrington, IL. A team with a passion for helping others design a path to financial success — whatever success means for you. Each of our unique insights fit together to create broad expertise, complete roadmaps, and creative solutions. We have seen the power of having a financial plan, and adjusting that plan to life. The result? Freedom from worrying about the future so you can enjoy today.