After a tumultuous first half of the year, Keel Point reflects on some of the main highlights over the past six months and considers how to respond moving forward. This paper summarizes the substantial changes in the law (SECURE Act, CARES Act, fiscal policy) and how it affects financial planning decisions now and in the future. It also addresses the market swings we’ve experienced and the benefit of rebalancing during volatile periods. Furthermore, we elaborate on the importance of avoiding emotional decision making by understanding your true risk tolerance. Lastly, we reflect on this new virtual environment and ways we will continue to provide holistic value to our clients, their loved ones, and our communities.
IRS Announces Gift and Estate Tax Inflation Adjustments for 2024
The IRS recently announced the 2024 inflation adjusted amounts related to gift and estate taxes. For individuals who die in 2024, up to $13,610,000 of the decedent’s assets, reduced by the value of taxable gifts made during life, will be excluded from federal estate...