As always, flexibility is key:
Recommend cautious optimism. The elimination of the estate tax in particular is likely to be welcome news to your higher net worth clients, but the proposal may be subject to opposition or compromise in Congress. This compromise could range from a “sunset” provision to gradual phase-in or something else entirely. We’ll have to wait and see.
Stress the continued need for smart estate planning. Although taxes have long had top billing in communications about estate planning, the real reasons for planning are present, no matter who is in the White House and Congress. This includes planning for medical or financial decisions during incapacity, directing your financial legacy to your intended beneficiaries, asset protection and more.
Source: Risks and Opportunities for Your Clients Under President-Elect Trump
