Estate Planning Strategies if the Gift Tax Exemption Amount Is Reduced Retroactively

By WealthCounsel Staff on Jun 18, 2021 10:01:56 AM

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With the Democrats in control of both the executive and legislative branches of the federal government, there has been a plethora of new proposals that could have sweeping effects within the estate planning industry. Some of the most notable proposals include increasing the capital gains tax rate to 39.6 percent, ending stepped-up basis, and making sweeping modifications to the estate, gift, and generation-skipping transfer (GST) tax exemptions. 

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