Wealth Management & Estate Planning Roundtable

June 7, 2021Media Mention
Los Angeles Times

Private Client Services Partner, Stefanie Lipson, participated in Los Angeles Times'  Wealth Management & Estate Planning Roundtable on June 7, 2021. Lipson shared insights about the latest trends and concerns in wealth management. 


"It’s no secret that the tax laws are under scrutiny right now, and estate and gift taxes are no exception. [...] The current proposal in Congress would reduce the exemption to $3.5 million effective January 1, 2022, allow only $1 million of the exemption to shelter lifetime gifts (as in 2009), but would increase the estate and gift tax rates to 45-65%, depending upon the value of the estate. Reducing the exemption amount will result in more estates being subject to the estate tax or having an estate tax return filing obligation. In addition, if enacted, the legislation would reduce the effectiveness of current planning structures and change the taxation of both existing trusts and new ones established post-enactment of legislation."

"Someone once told me that most clients spend two-thirds of their lives accumulating wealth and the last one-third trying to give it away. Then we, as planners, use the tools in our toolbox to whittle away at it and find efficient, but imperfect, options for the client to transfer the accumulated wealth. However, the most effective wealth transfer occurs when assets are transferred to the next generation at a low value so that the next generation shares in the growth and appreciation as it happens."

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