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Planning Steps for Your Estate

High Net Worth - Estate Tax-Saving Strategies to Consider

If you expect your estate to exceed the applicable estate exclusion amount, you will have to be careful in your planning to avoid or minimize an estate tax bill in the future. With only a few basic techniques, you can achieve your goal of minimizing or eliminating estate taxes. You may need to refer to the worksheets "What's Your Estate Worth?" and "Estate Wishes."

If your estate is in excess of the Applicable Exclusion Amount ($11.58 million in 2020 and $11.4 million in 2019) consult with an estate planning professional to discuss in detail some advanced techniques. There are many effective methods to help you limit your tax exposure, but these methods are beyond the scope of the information provided here.

In addition to the section on providing for your loved ones, you will probably also want to read the next section on saving taxes as a married couple, as well as the specific information in the sections on splitting assets, minimizing the impact of life insurance on your estate, and the basics of gifting.

*Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. BancorpSouth Wealth Management is a trade name of BancorpSouth Bank, a division of Cadence Bank. Infinex and the bank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.


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