The successful financial/estate plan will often include gifting strategies that minimize taxes, maximize flexibility, and—considering the current political environment—consider future tax law changes. This article provides an overview of the current gift tax law and offers insight into many of the changes proposed by the current administration. It concludes with a discussion of how the proposals impact life insurance trust planning.
Author: Suzanne M. Gradisher, JD, MTax, MBA, CPA (inactive), is an associate professor of business law at The University of Akron. She previously served as the director of the university’s CFP Board of Standard’s Inc. registered program and faculty advisor to the school’s FPA student chapter. She focuses her research on accounting, taxation, financial planning, and law.
Author: Terri Tassell-Getman, JD, CLU, ChFC, RICP, AEP (Distinguished), is the business development director for Diversified Brokerage Services. Terri’s focus has been on educating advisors on the appropriate use of life insurance in the estate, business, retirement, and executive benefit markets. Terri served on the board of directors for the Society of FSP and was the recipient of its 2015 Kenneth Black Leadership award.
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