How to Plan for “Sunset 2025” and a Possible Repeal of Estate Tax
Description
The One Big Beautiful Bill Act being considered by Congress serves as a reminder of the uncertainty of tax law. Although tax law should not be the only consideration in an estate and legacy plan, clients should adopt such plans with tax issues in mind — which is difficult because tax laws often change. In a recent episode, “Countdown to Sunset 2025: Planning in the Face of Scheduled Changes in the Law,” Steve reviewed the possibility that estate and gift tax exclusions could “sunset” at the end of 2025 and how that could impact a client’s planning.
In addition to the One Big Beautiful Bill Act, there is another proposed bill that would repeal the entire estate tax. Although repeal seems unlikely, this bill shows what it could look like. Estate tax repeal is a possibility clients should consider, if for no other reason than to illuminate the role of tax considerations in decisions about estate and legacy planning.
In this episode, Steve discusses the state of the potential “sunset” and reviews the proposed bill that would repeal the estate tax. This episode explores the proposals and how clients can approach their planning in light of uncertainty.
United States
