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Estate Tax Expected to Make the June Legislative Calendar
Another week in the books! Now that we're done with product discussion for now, on to more planning centered topics.
It appears that the House Ways and Means Committee is planning hearings for June regarding a number of tax proposals, including the Bush era tax cuts that expire at the end of the year. The estate tax repeal is included in these Bush era cuts.
Of course, all that means is the start of the formal discussion about how to deal with true Estate Tax Reform - a topic that is far more complex as a result of the current economy and the governments need for additional revenue. The real question, just as it was a few weeks ago when we first talked about Estate Tax Reform, is how do we guide our clients through this process?
The need for trust review discussed at that time is still important, but today we take a look at what our clients may be facing in the way of estate tax liability going forward. The insurance industry has continued to operate by the same financial underwriting rules used prior to the Estate Tax Repeal. The lack of clarity from Washington made changing any guidelines or procedures very premature.
In the intervening years since this legislation was enacted, a number of potential reform scenarios have risen to the top, and finally, a carrier has put a very effective tool in our hands to illustrate what this means to our client's potential estate tax liability.
Principal has created a very simple calculator that breaks down three possible reform scenarios using your client's data. I encourage any of you active in this market to click the following link and play around with this very simple, yet powerful way to illustrate how our government's actions will impact our clients.
Estate Tax Calculator
Have a great long weekend. I'll chat with you next week.
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Jeff
Reed
Marketing
Director
Cavalier Associates
Founder
Insurance
Analytic
858-427-1643
jeff@cavalierassociates.com
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