Stacey Prince-Troutman and Alaina Wallace, of Akerman LLP, have made available for download their article, “Draft Legislation in U.S. House of Representatives Would Dramatically Alter Estate Planning Strategies”, published in JDSUPRA. The abstract is as follows:
On September 10, 2021, the U.S. House Committee on Ways and Means released a draft of proposed legislation that, if enacted into law, would reduce the estate tax exemption and significantly limit the effectiveness of certain estate planning strategies. The draft legislation incorporates various proposals advanced by several members of Congress earlier this year and may serve as further evidence that taxes on the wealthy likely will increase. We summarize various proposed changes that may impact year-end estate planning.
Posted by Isabella King, Associate Editor, Wealth Strategies Journal.