Forbes Quotes Beth Kaufman on Estate Tax Changes for Wealthy Individuals
The estate tax changes matter to wealthy folks who try to whittle down their estates to keep below the threshold and avoid the 40% federal estate tax. “There are clients who use every dollar of exemption as soon as it’s available,” says Beth Kaufman, an estate lawyer with Caplin & Drysdale in Washington, D.C. Now a couple who has used up every dollar of their exemption before the increase has another $80,000 to play with. They could use it as seed money for a trust or to fund a GRAT, two popular wealth transfer strategies that can leverage these little slivers of exemptions, Kaufman says. For the full article, please visit Forbes’ website.