Forbes Talks to Beth Kaufman on Estate Tax Win for the Rich


President Donald Trump’s vow to kill the federal estate tax failed, but his family, and other high-net worth families, could still come out way ahead based on changes to the estate, gift and generation-skipping taxes in the final tax bill that awaits his signature.

“It’s a huge benefit to the wealthy,” says Beth Shapiro Kaufman, an estate lawyer with Caplin & Drysdale in Washington, D.C.

. . .

In this window, the tax bill offers enormous planning opportunities for the rich. “Any client who can afford to do so will want to use their exemption for gifts, in case it actually does sunset,” says Kaufman. For couples, this would benefit anyone with $11m or more in assets. Under current law, each person for 2018 had a $5.6 m exemption. Now each person will have an $11.2 million exemption. So, a couple has an extra $11.2 million to gift or transfer at death. “It’s better to give now while the law is certain,” she adds.

For the full article, please visit Forbes’ website.

Excerpt taken from the article “Final Tax Bill Includes Huge Estate Tax Win For The Rich: The $22.4 Million Exemption” by Ashlea Ebeling for Forbes.


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