HNW (High Net Worth) Gift Planning

The sun sets on HNW (High Net Worth) individuals with the current estate tax exemption amount of $12.92 million per person, reverting to the pre-2018 level of $5 million on January 1, 2026.

The impending change is significant and you should begin planning accordingly. 2026 will be here before you know it. Start to consider and discuss with your legal and financial team, heirs, family and preferred institutions to consider making large gifts. The IRS has clarified that taxpayers who make substantial gifts to utilize the larger exemption before the 2026 will not lose the tax benefit associated with the higher exclusion. Plan now to gift your art and get ahead of others who have the same idea.

It is not too early. Our firm is here to help with your art asset planning and art donation process.

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