The first blog in this series titled, “Estate and Tax Planning Ideas for a COVID-19 Economy – Part 1,” offered strategies for use in a depressed market to make impactful gifts to your family. In this follow-up blog, we explore how depressed values in the markets and current low interest rates have created some excellent opportunities to generate potentially significant tax savings, especially for those that are charitably-inclined. The four planning tools described below could help the tax situations for many clients.
Take advantage of current tax planning opportunities
Now is a good time to explore planning ideas that are effective in the midst of a market downturn. These tax planning opportunities may offer tax efficiency for your situation. For more information on wealth planning strategies for individuals and families, please contact your Warner estate planning attorney, Jay Kennedy in our Tax Group (248.784.5180 or jkennedy@wnj.com) or our Private Client and Family Office Practice Chair, Mark Harder (616.396.3225 or mharder@wnj.com).
