Estate Planning in 2020
Client Memorandum

Created date


We anticipate that, for higher-net-worth individuals, much of estate planning in 2020 will be focused on continuing to take advantage of the current $11.58 million ($23.16 million combined for a married couple) federal estate, gift and generation-skipping transfer tax exemptions, while they are still available.

For certain individuals, revisiting beneficiary designations for IRAs, 401(k)s and other qualified plans will be important in light of the recent enactment of the SECURE Act.

Those who have previously exhausted their exemptions might “top up” existing structures in 2020, and in future years, as additional inflation adjustments are made to the relevant exemption amounts.

In the current low interest rate environment, strategies involving grantor retained and charitable lead annuity trusts (so-called “GRATs” and “CLATs”) are also likely to continue to be of interest to high-net-worth individuals.