Remember the Advice to Prepare for Estate Tax Changes Sooner Rather Than Later? Later is Now.


During the last few days of March 2021, the For the 99.5 Percent Act was introduced in the United States Senate, and details were released concerning the Sensible Taxation and Equity Promotion Act. Both Bills would make dramatic changes that would increase taxes on lifetime gifts and after an individual’s death and would either eliminate or decrease the effectiveness of the estate planning strategies now used. While it remains early in the legislative process, the chances of significant changes are growing and the window for action is closing.

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