Estate Planning Discussion

For this assignmet, present both positive and negtive consequences of the proposed tax law change with relation to the topic stated below:  Assume that this is presented to your most valuable client

Estate Planning : Estate taxes may affect more taxpayers, as proposals suggest reducing the per perso estate-free lifetime limit from $11.7 million to as low as $3.5 million per person.  Other plans accelerate the ‘sunset’ that will occur in 2026 under current law, which reduces to $5 to $7 million.  Additionally – and perhaps more impactfully – as proposed, death will be considered a taxable transfer event where cost basis is no longer ‘stepped-up’ but rather all unrealized gains are recorgnized as death.