Omnivest® Insights: Take Advantage of the Lifetime Gift Tax Exemption for Strategic Wealth Transfer

Omnivest® Insights: Take Advantage of the Lifetime Gift Tax Exemption for Strategic Wealth Transfer

At Omnivest®, we understand that safeguarding your wealth and ensuring a smooth transition to future generations is more important than ever. Currently, the lifetime gift tax exemption allows you to transfer up to $13.61 million without incurring federal gift taxes. However, without Congressional intervention, this exemption will decrease to $5 million per person (adjusted for inflation) on January 1, 2026. This potential reduction presents a critical opportunity for proactive planning. Now is the time to collaborate with your Omnivest® financial advisor to strategically position your wealth for the future.

Seven Sound Strategies for Effective Wealth Transfer with Omnivest®

To help you make the most of today’s favorable tax environment, we’ve identified seven essential strategies. These are designed with a goal of preserving  your assets, minimizing your tax exposure, and securing your financial legacy for generations to come.

1. Initiate Wealth Transfer Planning Early with Omnivest® The earlier you start, the better. Our team at Omnivest® knows that estate attorneys’ schedules fill up fast, especially towards year-end. We recommend beginning your planning now, creating trust structures that can remain unfunded until you are ready to act. Avoid the last-minute rush and ensure you have ample time to make informed decisions with our support.
2. Stay Ahead of Policy Changes—Monitor the 2024 Election with Omnivest® Expertise The upcoming 2024 election could significantly influence estate and gift tax laws. With Omnivest®, you’ll have the advantage of a ‘wait-and-see’ strategy, allowing you to assess how the political landscape might impact your plans. Together, we’ll be ready to adjust and adapt in response to any changes in the legislative environment, ensuring your wealth strategy remains aligned with your goals.
3. Optimize Spousal Lifetime Access Trusts (SLATs) with a Strategic Approach For married clients, our professionals at Omnivest® suggest creating and funding Spousal Lifetime Access Trusts (SLATs) in different tax years. By doing so, you can effectively differentiate these trusts, reducing the risk of IRS scrutiny over “reciprocal” transfers. We’ll guide you through the timing and structuring of these trusts seeking to maximize their effectiveness.
4. Leverage Grantor Trusts for Flexibility and Tax Savings with Omnivest® Our team at Omnivest® can help you strategically place appreciating assets into grantor trusts, allowing gains to occur outside your taxable estate. If these assets do not appreciate as expected, we’ll ensure the trust terms enable asset swaps to manage your tax position. It’s all about flexibility and maximizing the advantages available to you.
5. Tailor Your Gifting Strategy to Your Financial Comfort Zone With Omnivest®, you don’t have to worry about overextending yourself. We utilize sophisticated financial modeling tools to help you determine a sustainable gifting strategy that aligns with your personal financial goals. Our goal is to ensure you can make meaningful gifts while maintaining financial independence.
6. Balance Tax Savings with Simplicity and Flexibility—Omnivest® Can Help At Omnivest®, we recognize that while tax efficiency is important, it shouldn’t come at the cost of unnecessary complexity. We work with you to find the right balance, ensuring that your estate plan remains straightforward and effective for you and your family. Sometimes, a simpler approach can be the best way to pursue financial well-being.
7. Partner with Omnivest® for Comprehensive Wealth Transfer Planning Our wealth advisors are here to support you every step of the way. From preparing you for meetings with estate attorneys to reviewing documents and assisting with the execution of transfers, Omnivest® provides a seamless experience. We’ll handle the details, helping you reduce costs, stay compliant, and ensure your wealth is transferred as intended.

Your Next Steps with Omnivest®: Don’t Just Invest, Omnivest®

By incorporating these seven strategies, Omnivest® will help you strategically leverage the current gift and estate tax exemptions, preserving your wealth and plan for your financial future. Our proactive, client-centered approach aims to ensures that you’re always a step ahead, ready for whatever comes next.

Let’s start the conversation today. Contact your Omnivest® advisor to discuss how we can tailor these strategies to fit your unique financial situation and goals. At Omnivest®, we aim to help you protect what you’ve earned, preserve your legacy, and prosper for generations to come.

Omnivest and LPL Financial do not provide legal advice or services. Please consult your legal advisor regarding your specific situation.

Reid Rasner – Founder Omnivest Financial