Spousal Limited Access Trusts (“SLATs”) became a household word, and will continue to be very popular (See Forbes Blog Estate Tax Law Changes – What To Do Now, September 14, 2021). Step 2 would be to forgive the note immediately before passage of an estate tax exemption balance reduction, or whenever the donor was ready to do so. Thanks to all readers who have asked us great questions about estate and gift tax planning. I can now schedule a vacation with Marcia and the dogs, to be canceled if the flavor of the day becomes estate tax increases again. If you thought this article was helpful, you may be interested in the Forbes article titled Hey President Biden - What Taxes Are You Now Imposing On Businesses And High Earners?.

Source: Forbes October 29, 2021 13:27 UTC