Last year we covered updates arising from the federal Tax Cuts and Jobs Act concerning the estate tax. The beginning of the year 2020 has similarly brought on changes to the law regarding the estate tax. Like last year, these changes impact the threshold amount of the estate tax exemption.

Because estate law is always changing, it’s important to stay on top of those changes and ensure that your family’s financial future is protected. For example, in 2017 the Tax Cuts and Jobs Act preserved the gift and estate tax exemption for the years spanning from 2018 to 2025. However, after new tax reform...