With Tax Laws in Flux: What Should You Do Now?

Due to the time, it takes to plan and execute some of the financial and estate planning actions we’d support you with, we suggest you start strategizing now. However, please note that we expect to be quite busy with those who do decide to take action before year’s end, so please contact us as soon as possible to get onto the calendar, if you intend to make changes to your estate plan this year.

That way, you’ll have plenty of time to take appropriate action before the end of 2021. In addition, whether you will be impacted by any of these proposed changes or not, if you know that this is the time to get your affairs in order and have trusted guidance to do so, please contact us, your Personal Family Lawyer® as well, so we can get your planning handled before year’s end. Now is the time to get started.

Last week in part one, we discussed the new bill’s proposed changes to tax rates and estate planning vehicles, including several different types of trusts. Here, in part two, we’ll focus on what you should do now, given that the tax law is in flux and we may not have clear answers until close to the end of the year.

TaxesErica EndykeOctober 11, 2021house democrats, house of representatives, new legislation, federal tax laws, income tax rates, capital gain tax rates, federal estate and gift tax, grantor trusts, law changes, family wealth legacy, family wealth planning, estateplanning, estate property, asset inventory, taxes 2021