President-elect Joe Biden’s control of the Senate will not be known until a pair of Georgia runoff elections take place on January 5, 2021. Our deeply divided Congress will likely slow Biden’s ability to get his plans enacted to deal with the pandemic and the growing federal deficits. However, tax increases to high income individuals, corporations and estates appear to be coming, and it is just a matter of when and how much.
The fear of increasing estate taxes has been the reason to address your estate tax planning now versus in the future.
Download our latest whitepaper where BPM’s Private Client Services professionals explain current tax opportunities and potential changes in 2021.