Monday, December 11, 2017
For nearly two decades, the legislature has played political football with the federal transfer tax system. This haphazard treatment makes this area of law particularly subject to frequent and radical change. As the proposed repeal of the estate and gift tax seems more likely and looms ever closer, planners and clients may not feel a pressing need to address this issue. Despite the possibility of reprieve, the mortality risk associated with the transfer tax remains a very real concern for the wealthy and cannot be ignored for estate planning purposes.
See Steven Parrish, Federal Estate and Gift Taxes Are a Mortality Risk, Insurance & Risk Management, November 2017.