United States:
Estate Planning Opportunities Remain In 2021
13 January 2021
Freeborn & Peters LLP
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Estate Planning in the first quarter of 2021 provides continuing
opportunities for clients seeking to preserve and transfer wealth
while minimizing or avoiding gift taxes. This Client Alert provides
information on three hot topics:
- Using Gift Tax Exemptions in
2021 While Avoiding Risk of Retroactive Cuts: Election
Outcome Leaves Retroactive Cut in Gift Tax Exemption a Possibility,
but Some Techniques Allow Use of the Larger Exemptions in 2021
While Protecting Against Retroactive Cuts
- Interest Rates Still Low, But
Trending Upward: Estate and Gift Tax Savings From
Intra-family Loans, Installment Sales, Loan Refinancing, and
Grantor Retained Annuity Trusts (GRATs), At Least Until Congress
Curtails Those Techniques
- Popular and Powerful Wealth
Transfer Techniques May Be Curtailed by Congress: The New
Administration Has Proposed, And The New Congress Will Be
Predisposed, to Cut Several Powerful Estate Tax Savings Techniques
and Rules: GRATs, Valuation Discounts, Basis Step-up on Death
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