Current Events In Estate Planning, April 15, 2021
Two pieces of legislation recently introduced by Senate Democrats promise to shake up the estate planning industry. First, the "For the 99.5% Act" would dramatically restructure the estate tax by reducing the tax exemption from $11.7 million to $3.5 million, and limiting or eliminating many common estate planning strategies, including Intentionally Defective Grantor Trusts, Grantor Retained Annuity Trusts, and valuation discounts for family LLCs.
Second, the Sensible Taxation and Equity Promotion (STEP) Act would eliminate the stepped-up basis of assets at the owner's death, and would treat most transfers of assets, including transfers at death, as a taxable event. Join Bob Keebler and Carl Waldman for a one-hour webinar as they discuss these current developments in estate planning, and consider possible various ways to address these developments with affected clients.
Presented by: Carl Waldman, JD and Robert S. Keebler, CPA, MST, AEP (Distinguished)
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