Attention individuals with a net worth exceeding $13 million and over $5 million in IRA or Roth IRA accounts: There’s an important tax law change stemming from the 2017 Trump tax reform that will expire at the end of 2025. Without action, the estate and gift tax exemption for significant lifetime gifts will revert to $5 million, adjusted for inflation. It’s essential to take proactive measures now to avoid potential tax reforms retroactive to December 31, 2024, which could impede crucial estate planning opportunities.
If completely avoiding estate taxes isn’t feasible, you may want to utilize the $13.61 million gift exemption before the end of the year. With strategic planning, you might transfer assets valued at up to $20 million by leveraging discounts. It’s important to evaluate your financial situation to select the most appropriate type of irrevocable trust for your needs. Parents can gift assets to this trust, ensuring that wealth is transferred across generations while bypassing estate taxes. Additionally, parents can retain the right to income from these assets, creating a comfortable retirement. This irrevocable trust can also work alongside charitable trusts or other funds, providing strategies for affluent individuals to reduce both income and estate taxes. Our series of seminars will explore these nuances in depth.
The seminar will feature the following topics:
**Main Topic 1: Proactively Addressing Tax Challenges for High-Value Assets**
– We’ll analyze the proposed tax reform for 2025 and discuss how to maximize the $13.61 million lifetime gift exemption before the year ends.
– Discover how to reduce hefty capital gains taxes stemming from asset sales through lesser-known installment trusts and investments in indexed stocks.
**Main Topic 2: Preparing for Retirement or Grappling with Heavy Tax Burdens?**
– We’ll assess current income categories from your assets and their tax implications, exploring potential asset reorganization for significant tax savings.
– Learn when converting to a Roth IRA is advantageous or potentially detrimental.
**Main Topic 3: Enhancing Asset Management through Trust Planning**
– Are you dealing with estate tax issues that revocable living trusts can’t address? What sets irrevocable trusts apart from their revocable counterparts, and how can they be advantageous?
– Explore the benefits of two types of charitable trusts and how they contribute to effective planning.
**Special Session (Seminars 2 & 3) by Acupuncturist Dr. Duan Xumin:**
– Discover the benefits of traditional Chinese medicine in treatment and early disease prevention.
– Learn about meridians and how to use meridians and acupoints for treatment, alongside real-world case studies.
**Seminar Schedule:**
1. **Session 1:** October 9 (Wednesday) 4 PM – 5:45 PM (Online, conducted in English)
2. **Session 2:** October 10 (Thursday) 2 PM – 4 PM (Online and in-person, conducted in Mandarin)
Location: Ameriprise Irvine Office, 2 Park Plaza, #1100, Irvine, CA 92614
Tel: 949.863.9400
3. **Session 3:** October 11 (Friday) 4 PM – 6 PM (Online and in-person, conducted in Mandarin)
Location: DoubleTree by Hilton, 888 Montebello Blvd, Rosemead, CA 91770
To register, please email [email protected] by noon on October 8 (Tuesday), specifying the number of participants, your chosen date, and your preferred participation method (in-person or online). After your registration is confirmed, a link for the online seminar will be sent to you via email. Attendance is free, but organizers reserve the right to deny entry to investment and financial professionals.
