Estate Tax Repeal, Is it Real? How May It Affect Planning Now And In The Future?

Republicans in Congress have proposed the repeal of the federal estate tax and they may have the votes to make it happen. Federal estate tax repeal would radically change estate planning, but it won’t mean action is not necessary.  Many wills and trusts use formulas based on tax definitions to allocate wealth to the intended heirs. Without a federal estate tax, those formulas may work in unanticipated ways that could be a disaster. How might this happen and what should be done? Even if the federal estate tax is repealed, there is no assurance that a future administration won’t reinstate an estate tax or wealth tax. What should be done now in consideration of that risk? Is there a benefit to making transfers before repeal so that you can assuredly allocate GST exemption? What about carry over basis, capital gains on death, basis step up without an estate tax, and other scenarios? What should practitioners consider now and what should they tell clients?

Speakers: Martin Shenkman, Esq., Jonathan G. Blattmachr, Esq, Robert S. Keebler, CPA, and Teresa Bush, Esq.

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* No CPE, CLE, etc. is offered but a certificate of attendance will be provided.