Post-Election: The New World of Estate Planning

A Trump victory suggests that it is unlikely that significant new taxes will be imposed on the wealthy. This is quite a different result that what most estate planning conversations seemed to have focused on. Had the Democrats swept, everyone anticipated substantial tax increases along the lines of a Senator Warren tax proposal. That seems assured not to occur now, nor for the next four years. Practitioners must consider many questions including: What does all this mean to estate planning? What should practitioners tell clients to consider now? How is that advice different than the typical pre-2026 planning that has been the focus of so many planning conversations? The webinar will review many of the factors that may influence what estate tax changes may occur. Different approaches will be suggested that might help clients now hesitant to continue or conclude planning including creating a standby trust, a QTIP’able trust plan, a special form of disclaimer planning and perhaps even recission. The increased importance of income tax planning benefits post-election will be reviewed: basis step-up planning, non-grantor trusts and state tax savings, and more. Non-estate tax reasons for clients to continue planning will be explored. Practical suggestions on practice management in light of the election result will be presented including: modifying the scope of practice to address issues that remain relevant in the new tax environment, communicating with clients and more.

Speakers: Martin M. Shenkman, CPA, MBA, JD, AEP, and Robert S. Keebler, CPA AEP

*This may constitute attorney advertising. *

No CPE/CLE is offered but a certificate of attendance will be provided.