State of the Union to Propose Stealth Increase of Estate Taxes


The Wall Street Journal and numerous other media outlets are reporting that the State of the Union address on Tuesday will outline a proposal by the President to effectively increase estate taxes.  In the proposal, appreciated assets in an estate would not receive an updated or “stepped up” tax basis on death.  Only a small amount of gains suggested as $200,000 in portfolio assets and $500,000 in a primary residence would be shielded from tax.  Although these numbers may seem large, ask many families what their tax-cost basis is in desirable places to live, such as Silicon Valley and other parts of California, and you will see that this proposal would capture many more families with a taxable event on death even without a formal change to the estate tax rules.  There are many estate planning strategies that can help families facing estate tax burdens.  Some of the best strategies use Nevada Trusts – the best state for asset protection and tax minimization.  Please call Alliance at 775-297-4000 for more information.

Bill & Hillary Clinton’s Estate Plan – An Uncommon Family with Common Goals


Everyone needs an estate plan, so that their wishes for property, charities and heirs are known.  It can be helpful to look at what others do to gain insights and ideas as to how one may structure their own plans.  Because of regulatory filings for political figures, we have insights into how the Clinton family has structured their estate plan.

It appears that the Clintons have goals common to many families – minimizing taxescaring for their child, and gifting assets out of the estate.  Not many people realize that trust laws vary greatly from state to state.   The laws essentially differ on options and choices for the person establishing the trusts, giving the family more options to meet their objectives.  Want to ensure that more of your estate goes to charities and your family, rather than to taxes or other threats?  Look to Nevada.  The Silver State has some of the best trust laws in the country and you don’t have to live in Nevada to establish a family trust here.  Call Alliance in Reno at 775-297-4000 for more information.

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