Estate Planning During Bad Economic Times
Gifting those beaten down stocks?
As folks across the country opened up their brokerage statements, one thing was apparent--their stocks are worth less than they were the previous month or year. With the dramatic decline in the stock market, many are holding stocks whose value has declined substantially. What to do? Well, this article in the Wall-Street Journal suggest you might consider gifting those stocks to family members as the tax benefit from the gift is that much greater.
With a new administration taking over the White House, Democrats controlling Congress, and the previous administration's estate and gift tax measures reaching the end of their life cycle, most experts agree we can expect new estate and gift tax policies in 2009. One does not need a crystal ball to suspect the tax savings in the previous legislation will probably erode. The question is how much. So during these trying economic times, the advice in the Wall-Street Journal may be the best route for your battered stocks.
If you are interested in discussing estate planning strategies, call the Kisselburgh Law Firm at 601-936-4040 or contact us online to set up a consultation.
