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Bay Area Estate And Tax Planning Law Firm
Estate Planning
Trust Administration and probate

Some planning considerations with election clock ticking

| Sep 10, 2020 | Estate Planning |

It’s been quite a year thus far, hasn’t it?

And a certain political event is looming larger by the moment.

Maybe you’ve already got November 3 circled on your calendar. That spells the first Tuesday of that month, which of course marks the day when scores of millions of Americans make their personal selection for who they think the next U.S. president should be.

That’s obviously a big deal, right?

As compelling as it is, and notwithstanding the many opinions about it that swirl endlessly in the media, we withhold comment. Our blog posts at the Law Offices of Connie Yi seek solely to provide estate planning-linked content that is instructive and personally relevant to our readers.

Right now, though, estate planning subject matter is potentially tied inexorably to politics for one singular planning demographic.

As the financial publication Kiplinger notes, that audience comprises high-net-worth individuals and families, who might conceivably be affected by post-election changes in key estate planning areas.

Indeed, things could change. The Kiplinger piece duly mentions promised adjustments concerning estate taxes that Hillary Clinton vowed she would make if she won the presidency.

That didn’t happen, of course, but something material in the estate planning sphere could conceivably be altered next year and beyond. Kiplinger notes that high-asset individuals might want to timely consult with proven legal counsel now, who can help them “capitalize on the advantageous estate planning environment that we currently enjoy.”

Strategies and opportunities will differ in every case, with Kiplinger noting that, “Each family’s situation is unique, with its own complexities and dynamics.”

Questions or concerns regarding high-net-worth estate planning can be addressed to a proven planning professional with an integrated background in both law and tax matters.


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