An excellent article is available in JDSupra titled: How Will The Presidential Candidates’ Tax Plans Impact Estate and Gift Taxes for Business Owners and High Net Worth Families? (JDSupra, September 19, 2020) Berdon Accountants and Advisors
Another article of interest with an intriguing title: Politics Is The Wild Card In Planning For Taxes by Ron Sussman (insurancenewsnet.com Sept. 17, 2020) explores "the highly politicized tax environment".
Even if you are not a high net worth individual, now might be a good time to 'dust off' your financial planning documents and your estate planning documents to determine what changes could be beneficial going forward.
You may have until the end of the year to consider any alterations to your finances, whether it is selling assets or restructuring portfolios.
Now is the time to consult with a financial advisor and your estate planning lawyer to find out what changes are advisable.
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