Katie Kuehner-Hebert

These are now less common as an estate must have more than $10.8 million to be taxed.

For starters, these may be subject to the 3.8% net investment income tax.

For starters, these may be subject to the 3.8% net investment income tax.

Clients can consider gifting up to $14,000 to as many individuals each year before gift taxes kick in.

Clients can consider gifting up to $14,000 to as many individuals each year before gift taxes kick in.

Clients should consider spreading out transfers over their lifetime to lower tax liabilities.

Strategizing Wealth Transfers to Heirs to Lower Taxes

Advisors should tell parents that this may not be in the entire family’s best interest.

Some think they should if it interferes with their retirement plans, but others say it isn’t their place.

The speed of converting funds from a traditional to a Roth IRA depends on the tax implications, as well as the client’s age, health, need of funds and estate planning considerations.