Dear Garden State Trust: I’m old enough to retire, but I’m not sure I’m ready yet. I think I have strong financial resources, but I don’t know if they are enough to make me financially independent for the rest of my life. Retirement seems so terribly uncertain to me. When should I make the jump?…
Month: August 2020
Can No Tax Liability Suddenly Become Big Tax Liability?
When the Tax Cuts and Jobs Act of 2017 was passed, one of the benefits for wealthier families was the doubling of the federal gift and estate tax exemption. With inflation adjustments, it’s currently $11.58 million per individual, which means a married couple could transfer over $23 million without incurring a federal gift tax in…