Estate Planning Red Flag – Your estate plan includes a formula funding clause

Description

Abstract: The estate tax exemption is higher than it’s ever been, thanks to the Tax Cuts and Jobs Act. If a person is married and executed his or her estate planning documents years ago, when the exemption was substantially lower, now is the time to review the plan to ensure that the increased exemption doesn’t trigger unintended results. This brief article examines how changing exemption rates can affect a formula funding clause.