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5 questions that remain on Trump's estate tax plans

from UHY LLP

President-elect Donald Trump has promised to introduce a tax plan that includes estate tax repeal as a priority in his first 100 days, however several questions must be addressed before repeal becomes reality. 1. Will repeal occur? The most important question is whether estate tax repeal will actually occur, and if so, will it be permanent or will it be similar to what happened in 2010 when it was only good for one year? Even if repeal is included in the anticipated tax overhaul package in order to pass through the Senate, Republicans will need 60 votes, which may prove difficult. As a result, it may be wise to consider establishing two estate plans. One for if the estate tax is eliminated and another for if it's reinstated. more

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