Episode 28: Biden’s Big Estate Tax Plan- How Do You Anticipate and Plan for These Changes?

Episode Summary

May 25, 2021 | 00:05:01 | E28

Karl Frank CFP® and Nathan Merrill discuss Biden’s proposed estate tax plan changes. We describe what the President proposed and what this means for Americans. The increase may affect more people than ever before. The tax rate may be higher. And the loss of a benefit called the step-up in basis could be very expensive for families who have real estate, a family business, farm, or other assets. Nathan will talk in some detail about what we can do before the laws take effect. Learn about the risks that the laws will not change. And learn about ways to reduce the risks in these uncertain times. Ideas include sales, gifts, trusts, companies, foundations and more. Plus, you will learn about how a dollar may be worth a dollar when it goes into a trust. These legal strategies have been around for decades and will become more popular if tax rates go up.
See also the blog post: https://assetsandincome.com/blog/what-biden-tax-increases-mean/