Having a solid estate plan in place is an important step in preserving your wealth for generations. The looming change in the federal estate tax exemption makes the need for a thoughtful plan even more pressing. When Congress passed the 2017 Tax Cuts and Jobs Act, they boosted the federal estate tax exemption, offering high-net-worth individuals a significant tax planning advantage. However, barring any changes from Congress, the estate tax exemption (which is currently $13.61 million in 2024) is…