Steve Akers, Bessemer Trust’s Senior Fiduciary Counsel, has published his assessment of the new tax law and its implications. The abstract for Mr. Akers’ full report is as follows:
The 2017 tax reform legislation generally referred to as the Tax Cuts and Jobs Act represents the most significant revision of the Internal Revenue Code in decades. A summary of selected highlights is available on the link below.
The summary includes highlights of the transfer tax, individual, and business tax provisions, and addresses estate planning considerations in light of these provisions and the inherent uncertainty arising from the “sunset” of the individual and transfer tax provisions in 2026.
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.