Taxes are just one part of estate planning. People are also asked to consider custody arrangements, medical decisions, and legal issues. But it comes as no surprise that people who have worked their whole lives to build an estate are wary of letting taxes and fees eat away at their hard-earned assets. 

 

Further complicating the current environment is the fact that lifetime estate and gift tax exemption thresholds are poised to be cut in half at the stroke of midnight December 31, 2025, leading to a potentially sharp jump in some estates' tax liability. But there's still time to prepare. 

On this episode of Financial Decoder, Mark interviews Austin Jarvis, director of estate, trust, and high-net-worth tax at the Schwab Center for Financial Research. They discuss why everyone needs a will, various estate planning documents, and what to do if you have a large estate that might owe more taxes later.
You can read articles from Austin Jarvis, including “Estate Planning for Low Interest Rates” and “How to Help Your Grandkids Pay for College” on Schwab.com. 

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Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. 

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