December 18, 2017 | News
The increased exemptions from estate, gift, and GST tax until 2026 under the soon-to-be enacted tax legislation create a window for significant tax planning and wealth transfer planning. Taxpayers with substantial assets that are able to give away assets during life are especially well positioned to take advantage of the new tax laws. Some of the strategies that our firm can assist with include:
- Making gifts to take advantage of the increased exemptions, including gifts to Dynasty Trusts that will continue for generations and gifts to trusts that include the donor’s spouse as a beneficiary
- Structuring transactions to leverage the value of the increased exemption
- Increasing the tax advantages available to clients who have made sales to grantor trusts
- Planning to intentionally increase the basis in appreciated assets