An article by Bob Finnegan, J.D., CLU®, HCB Senior Vice President, Advanced Sales Attorney, published in Steve Leimberg’s Estate Planning Newsletter on December 20, 2016.
Since at least 2001 when the estate tax was renamed the “death tax,” transfer taxes have been a political football. With the election of Donald Trump and a 51-member majority in the Senate, the possibility of repeal has become more likely. Much of the commentary has taken repeal as a given. But is repeal likely? And if the transfer taxes are repealed, what is the likelihood that repeal will in fact be permanent? And most importantly, how do we advise our clients in the face of all of this uncertainty?