As the end of the year approaches, now is an ideal time to implement estate and gift tax strategies to lower your taxable wealth.
STLTaxLawyer Mark Milton shared on "The Mark Milton Show" podcast some useful estate planning strategies available to all individuals looking to minimize their tax liabilities.
One option is that individuals are allowed to give up to $17,000 per person per year and not be subject to a gift tax.
"Drawing down your wealth is a great estate planning tool," Mark said. "Gifting money to your heirs helps avoid estate taxes and you get the benefit of seeing your family enjoy... Continue reading