Inside the 'frenzy' among ultrawealthy Americans to update their wills, as the rich hand estate planners out million-dollar inheritances years early and overwhelm elite

Laura Zwicker, Chair of Greenberg Glusker's Private Client Services Group, provides insights into the current state of estate planning for high net worth individuals in the Business Insider article, "Inside the 'frenzy' among ultrawealthy Americans to update their wills, as the rich hand estate planners out million-dollar inheritances years early and overwhelm elite," published on October 20, 2020.

Excerpts:

Laura Zwicker, a Los Angeles-based lawyer who advises wealthy entertainment executives for Greenberg Glusker, told Business Insider that she has conversations with clients about how a Biden presidency would change their tax bill "multiple times a day." Others, reminded of their own mortality by the pandemic, are dusting off wills long due for an overhaul.

Any new tax legislation would likely not take effect until the day it enters congress or is signed into law, but there is a possibility that it could be retroactive to January 1, per Zwicker. That gives her clients only a short window to take advantage of the current policies.

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