Although it may seem like the current economic climate is full of doom and gloom, there is actually a positive side to current market conditions. This is an optimal time for individuals to review their estate planning and to reconsider gifting assets to their heirs. Due to the decline in asset values and low interest rates, the cost to transfer assets has substantially decreased. In addition, if transfers of assets with depreciated values are made now, all appreciation that takes place after the markets rebound will be out of the donor?s estate with no transfer tax effect.
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