Beth Kaufman Comments on Preparing Clients for Tax Policy Changes

Financial Planning 

Financial advisors can get worn down by demanding clients, especially those who harbor unreasonable expectations about market returns or spend too much in retirement. But the mental frustration runs both ways, and when it involves taxes, things can get dangerous.

. . .

Beth Shapiro Kaufman, a tax lawyer at law firm Caplin & Drysdale in Washington, D.C., who assists wealthy individuals with their estate planning, said that she preps her clients for uncertainty regardless of where tax policy stands. Her standard [client] letters always note that the gift and estate tax exemption is set to revert to lower levels in 2026 - or could go down sooner, or not at all. "Advisors have to let clients know what's at risk," Kaufman said.

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