Does New Tax Law Mean Less Estate Planning?

What should occur to your planning under new laws depends on your circumstances.

Perhaps the best way to figure out what will occur in estate planning under the new tax laws is to check with the attorneys, according to Wealth Management in “Will High Estate Tax Exemptions Mean Less Planning?“

Most estate planning attorneys do not expect to see very many changes in planning. Those who do, tend to think any changes will be small.

One reason is the number of people who will no longer have to pay the estate tax. Why? Because the number of Americans with estates exceeding the higher exemption is relatively small when compared to the general population.

A bigger reason is that many experts do not expect the changes to last very long and that politicians will reverse the changes.

An estate planning attorney can advise you on what would be your best course of action under the new estate laws.

Reference: Wealth Management (Jan. 29, 2018) “Will High Estate Tax Exemptions Mean Less Planning?“