The election of Donald Trump and Republican majorities in U.S. Congress make the future of the federal transfer tax system (gift, estate and generation-skipping transfer (GST) taxes) uncertain. President-elect Trump and...more
11/28/2016
/ Business Valuations ,
Estate Planning ,
Estate Tax ,
Family Businesses ,
Generation-Skipping Transfer ,
Gift Tax ,
Internal Revenue Code (IRC) ,
IRC Section 2704 ,
IRS ,
Repeal ,
Tax Reform ,
Transfer Taxes ,
Trump Administration
Creating an Irrevocable Life Insurance Trust (ILIT) can dramatically increase the liquidity of an individual’s estate and effectively leverage the value of the annual $14,000 per donee gift tax exclusion and the $5,430,000...more