Summerlin Benefits Consulting Q&AAnswer
Oct 29, 2024 - 10:12 AM
Reduced estate and gift tax exemptions in 2026 will impact retirees by lowering the amount they can transfer tax-free, increasing potential tax liabilities on estates and gifts. Retirees may need to plan for increased tax exposure on inheritance and gifted assets, which could affect their heirs’ inheritance or the value of gifts they intend to pass on. Advanced planning, like using tax-efficient investment vehicles or reviewing estate plans, can help retirees manage these impending changes effectively.
