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Critical Estate Planning Update: Get Your Plans Updated Now

As you have recently seen in the news, there will likely be changes in estate and gift tax rules in the near future. Under the current administration, we believe tax laws will change. It’s just a matter of when and what the effective dates will be. Any legislation could provide a very narrow window to implement planning. Therefore, there is no time like the present to complete your estate planning before it’s too late.

Top 4 Reasons You Should Rethink Your Estate Planning in 2021

  1. The estate tax lifetime exemption amount could be reduced significantly (from $11.7 million to $3.5 million for single and from $23.4 million for a married couple to $7 million) and the gift tax lifetime exemption amount could be reduced to $1 million.
  2. The estate and gift rate structure could go from a 40% flat rate to a progressive structure as high as 65%.
  3. Possible loss of minority and marketability discounts when valuing certain gifts.
  4. Possible elimination of the step-up in basis to date of death value rule with gain realization on transfers.

Our trust and estate planning experts will cover what we know about these potential changes and why you need to start planning now. There is no definite timeline for the two pieces of legislation recently introduced in Congress (The 99.5% Act and The Sensible Taxation and Equity Promotion (STEP) Act) as of yet. Still, you will want to avoid any potential retroactive impacts for this year and next.

Plan Now. Be Prepared. Please Don’t Wait Until It’s Too Late.

Join us May 13th as our team discusses the impact of the recent Acts. Plus you will have time to ask your questions to our experts.

Presented by:

  • Richard Kollauf, JD, CPA, CFP®, AEP® | Principal | SVA Certified Public Accountants
  • G. Schramka, CPA, JD, ABV, PFS, CIRM | Principal | SVA Certified Public Accountants


May 13 2021


12:00 pm - 1:00 pm