SUMMARY
Your wealth and family, as well as the tax, legal, and economic environment are constantly evolving. As such, your wealth planning needs to be dynamic too.
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Learn more about In ViewHelpOnline securityPlease be advised that verbal and written communication from Citi may be in English as we may not be able to provide servicing related communications in all languages. These communications may include, but are not limited to, account agreements, statements and disclosures, change in terms or fees; or any servicing of your account. If you need assistance in a language other than English, please contact us as we have language services that may be of assistance to you.
Por favor, tenga en cuenta que las comunicaciones verbales y escritas de Citi podrían redactarse únicamente en inglés, ya que, tal vez, no podamos proporcionar comunicaciones relacionadas con los servicios en todos los idiomas. Estas comunicaciones podrían incluir, entre otras, contratos, divulgaciones y estados de cuenta, cambios en los términos o en los cargos, así como cualquier documento de mantenimiento de su cuenta. Si necesita ayuda en un idioma distinto al inglés, por favor, comuníquese con nosotros, ya que tenemos servicios de idiomas que podrían serle útiles.
Informamos que as comunicações verbais e por escrito do Citi podem estar em inglês, pois talvez não possamos fornecer comunicações relacionadas a serviços em todos os idiomas. Essas comunicações podem incluir, mas não estão limitadas a, acordos de contas, declarações e divulgações, mudanças nos termos ou taxas; ou qualquer serviço de sua conta. Se você precisar de ajuda em um idioma diferente do inglês, entre em contato conosco, pois temos serviços de idiomas que podem ser úteis para você.
请注意,花旗集团可能使用英文进行口头和书面通信,因为我们可能无法以所有语言提供与服务相关的通信。这些通信可能包括但不限于账户协议、账单与披露声明、条款或费用变更,或为您账户提供的任何服务。如果您需要英文以外的其他语言的帮助,请与我们联系,因为我们提供可能对您有帮助的语言服务。
Please be advised that verbal and written communication from Citi may be in English as we may not be able to provide servicing related communications in all languages. These communications may include, but are not limited to, account agreements, statements and disclosures, change in terms or fees; or any servicing of your account. If you need assistance in a language other than English, please contact us as we have language services that may be of assistance to you.
Por favor, tenga en cuenta que las comunicaciones verbales y escritas de Citi podrían redactarse únicamente en inglés, ya que, tal vez, no podamos proporcionar comunicaciones relacionadas con los servicios en todos los idiomas. Estas comunicaciones podrían incluir, entre otras, contratos, divulgaciones y estados de cuenta, cambios en los términos o en los cargos, así como cualquier documento de mantenimiento de su cuenta. Si necesita ayuda en un idioma distinto al inglés, por favor, comuníquese con nosotros, ya que tenemos servicios de idiomas que podrían serle útiles.
Informamos que as comunicações verbais e por escrito do Citi podem estar em inglês, pois talvez não possamos fornecer comunicações relacionadas a serviços em todos os idiomas. Essas comunicações podem incluir, mas não estão limitadas a, acordos de contas, declarações e divulgações, mudanças nos termos ou taxas; ou qualquer serviço de sua conta. Se você precisar de ajuda em um idioma diferente do inglês, entre em contato conosco, pois temos serviços de idiomas que podem ser úteis para você.
请注意,花旗集团可能使用英文进行口头和书面通信,因为我们可能无法以所有语言提供与服务相关的通信。这些通信可能包括但不限于账户协议、账单与披露声明、条款或费用变更,或为您账户提供的任何服务。如果您需要英文以外的其他语言的帮助,请与我们联系,因为我们提供可能对您有帮助的语言服务。
Your wealth and family, as well as the tax, legal, and economic environment are constantly evolving. As such, your wealth planning needs to be dynamic too.
Creating a proper wealth plan is essential for the preservation of a family’s wealth and legacy. It is equally critical to ensure that a plan can adapt to changing circumstances. In 2022 and 2023, much has changed. Financial market moves and shifting laws have created both risks and opportunities. Wealth planning strategies that were previously attractive have become less so and vice versa.
There are various reasons for avoiding the creation and updating of wealth plans; however, the lack of planning or failure to update a plan may result, among other things, in:
Ideally, you should create a plan at the earliest opportunity and revisit it regularly or as warranted by changing circumstances. These may include changes in your family, your wealth, or the economic, legal, and tax environment. By acting sooner rather than later, you may be able to create tax savings, ensure that appropriate fiduciaries are in place and ensure that assets are distributed to desired beneficiaries.
Exemption amounts for federal gift and estate tax have increased for 2023 to all-time highs of $12.92 million per individual ($25.84 million per married couple) up from $12.06 million and $24.12 million respectively in 2022. This year-over-year increase was more significant than those seen in recent years due to higher inflation. These amounts represent a significant opportunity for additional tax-free gifts for people who have already used their full lifetime gift tax exemption in previous years.
It is also important to note that under the current law, these exemption amounts are scheduled to decrease by about half at the beginning of 2026. However, the reduction could conceivably be greater and occur sooner, depending on whether new tax legislation is enacted.
At the same time, interest rates have increased significantly. This can impact existing wealth plans and certain popular wealth transfer strategies. Previously, many planning strategies relied upon low interest rates as a means to transfer wealth at low cost to future generations. But while higher interest rates create challenges for certain strategies, they can also create new opportunities and increase the appeal of strategies that were less advantageous in a low interest rate environment.
This paper will highlight some of the challenges and opportunities arising from the current economic and political environment. We encourage clients to contact their Wealth Planner and independent professional advisors to ensure your plan is updated and ready to adapt to changing circumstances.
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Our services have a minimum investment level of $5 million.
Based on the information provided, we believe that a Citigold relationship may be most appropriate for your needs.
To find out more: Visit Citigold
Our services have a minimum investment level of $5 million.
Based on the information provided, we believe that a Citigold relationship may be most appropriate for your needs.
To find out more: Visit Citigold
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