Wealth Planning: Preparing for Change

In the current environment, investors should develop their planning strategies and review key documents to address the potential impact of tax policy changes.

Updating your plan can be a challenging exercise, particularly in light of increases in government spending, accompanied by proposals for sweeping tax reform being debated.  Since a new administration enacted and announced spending increases, it makes the possibility of Congress enacting tax policy changes and increases very likely.  Current proposals include the reduction or elimination of certain tax measures that have guided how investors protect and preserve their wealth in recent years.

To address change as we move forward, we’ve put together a snapshot of possible changes along with planning actions to consider. The list is broken into four categories:

•Document status
•Estate and gift tax
•Transfer vehicles
•Income tax

  • DOCUMENT STATUS

  • ESTATE AND GIFT TAX

  • TRANSFER VEHICLES

  • INCOME TAX

Conclusion

Along with government spending proposals, significant tax increases and changes may provide a mechanism to fund them.  Regardless of which proposals may be passed by Congress, it’s never a good strategy to wait and later react to the impact of those changes. It’s critical to take steps today to evaluate potential implications of higher taxes and strategies to protect wealth. It’s important to review your plan on a regular basis to take advantage of these opportunities and mitigate adverse results.

We are here to help with effective positioning in all market cycles, and to address the impact of future changes in tax policy.

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