SPECIAL ESTATE PLANNING CONSIDERATIONS PART 1
by: Begley Law Group
- Grandchildren. Do you want to make a gift to your grandchildren in your Estate Planning documents? Some people say, “I’ll leave it to my children, and my children will take care of the grandchildren.” Most people say they would like to leave a gift to their grandchildren or a trust for their grandchildren, because of the special relationship that the grandparent has with the grandchild.
- Gifts or Loans to Children. Frequently, parents make loans to children that are not repaid. They often make gifts to children with the understanding that the remaining children will have their shares of the estate adjusted so that all children receive additional amounts.
- Tax Considerations. In planning an estate, taxes must be considered. The minimum federal estate tax rate is 40%. However, in 2026 the federal estate tax exemption is $15,000,000 for an individual, and $30,000,000 for a married couple. State death taxes must also be considered.