Many provisions of the Tax Cuts & Jobs Act of 2017 are set to expire at the end of 2025, so wealth management advisers are telling high-asset clients to act now.
Individual tax rates will return to 2017 levels, with the top rate reverting to 39.6% for 2026.
But the even more pressing provision scheduled to “sunset” on Dec. 31, 2025, is the estate tax exemption, a limit that will fall by half. Wealth up to $12.92 million is shielded from estate taxation when a person dies, and for married couples, that adds up to $25.84 million…