Harris' rise in polls sparks wave of wealth transfers to kids

Published On Sep 13, 2024, 7:30 AM

The rising popularity of Vice President Kamala Harris in recent polls has prompted wealthy investors to consider transferring significant wealth to their children before potential tax changes occur. Currently, individuals can gift up to $13.61 million without incurring estate or gift taxes, but this will drop to around $6 million starting in 2026 due to the expiration of current tax provisions. Wealthy individuals now face the dilemma of whether to give large gifts now or wait, as they fear higher taxes if a Democratic president is elected.

Read full article

Stock Forecasts

LPLAView LPLA chart on TradingView

Positive

Current discussions surrounding estate tax changes suggest an immediate urgency from wealthy individuals to transfer assets. If wealth managers are seeing an uptick in estate planning activity, it indicates that stocks or financial instruments associated with estate planning and wealth management may see increased demand. Consequently, companies in the wealth management industry may perform well. Investing in wealth management firms like LPL Financial Holdings Inc. (LPLA) could be advantageous in the current climate.

Related News

Harris' rise in polls sparks wave of wealth transfers to kids

Sep 13, 2024, 7:30 AM

Currently, individuals can send up to $13.61 million (and up to $27.22 million for couples) to beneficiaries without owing estate or gift taxes.

LPLA