Following the 2017 Tax Act, many advisors have asked how to respond to clients who say that there is no urgency in planning given the tax changes. To address this lack of urgency, consider the following:
- the non-tax needs of the family–including liquidity to equalize gifts among heirs,
- the preference heirs may have to buy each other out of unwanted assets, and
- the desire to ensure long-term care for a special needs family member.