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Harris' rise in polls sparks wave of wealth transfers to kids

NBC News
Summary
Nutrition label

81% Informative

The estate tax "sunset" of a generous provision in the estate tax next year has taken on new urgency as the odds of a divided government or Democratic president have increased.

Under current law, individuals can transfer up to $13.61 million to family members or beneficiaries without owing estate or gift taxes.

The benefit is scheduled to expire at the end of 2025 .

During a similar tax cliff in 2010 , so many families rushed to process gifts and set up trusts that attorneys became overwhelmed.

Advisors say today ’s gifters face the same risk if they wait until after the election.

“We’re already seeing some attorneys start to turn away new clients,” Lucina Lucina said.

VR Score

87

Informative language

88

Neutral language

48

Article tone

informal

Language

English

Language complexity

43

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

Source diversity

1

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