Today your host Josh and co-host Michelle discuss 5 steps on how to NOT to screw up passing your wealth to your heirs, with obviously some of the discussion centered around having a will.

Takeaways:

• In 2026, the current state exemption of $12.92 million per person that was part of the 2017 Tax Cuts and Jobs Act is set to expire. The future amount is projected to be reduced by roughly half to about $6.4 million per person
• Have a conversation with your heirs. It may be uncomfortable. If it's going to be super uncomfortable, have your professional team with you
• If possible, think about helping your heirs while you're still alive and they could probably use the assistance. For example: the gift tax exclusion for 2023 is $17k per done, $34k per married couple