The result of the 2020 election can’t be known but if the Democrats gain sufficient control in Washington they may enact the estate tax proposals that seem to have become part of the Democratic Party platform. This might take the lines of the estate tax legislation Sanders introduced into the Senate and which Gomez introduced into the house. Most clients, even those of moderate wealth, should be educated about what this might mean and planning they might consider before the election.

Consider what a $1 million (from the current $11.58 million) exemption would do to planning? Physicians and other clients worried about asset protection planning could lose much of the ability to protect assets. A $3.5 million gift exemption could make many of your clients who have been ignoring estate planning subject to harsh estate taxes. A $20,000 cap on total annual gifts could prevent many clients from funding common life insurance trusts. There are lots of practical planning ideas you should be discussing with clients now. This webinar will review the potential changes as well as planning you should be discussing with clients NOW!

Learning Objectives:

• Explain what the various Democratic proposals to change the estate tax system include.


• Discuss how practitioners can educate clients about the possible changes.


• Teach planning steps practitioners might consider for their clients now.


• Explain the importance of asset protection planning under the new estate tax regime.