The Minneapolis/St. Paul Business Journal (MSPBJ) hosted a panel discussion on estate planning, featuring Hellmuth & Johnson attorney Nicholas Hulwi alongside other contributors. The panel addressed various aspects of estate planning, including wills and trusts, asset protection, Minnesota estate tax, generational wealth transfer, and charitable giving. Hulwi contributed insights on asset protection strategies and considerations for significant wealth transfers in light of changing tax laws. When asked whether clients should utilize the current gift tax exemptions before their expiration in early 2026, Hulwi advocated for balancing tax considerations with personal financial needs and potential impacts on beneficiaries. He stated, “These factors may outweigh the potential estate and gift tax savings associated with making a significant transfer now to take advantage of the current exemption amount.”
For more details from the panel discussion, read the full article.