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Act now â estate tax planning under the Biden administration
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Over the past twenty years, there has been a dramatic change in the estate tax laws. Given the Democratic control established in Washington, D.C., additional estate tax reform is now a distinct possibility.Â
Currently, each person can give away during lifetime, or distribute at death, an amount of $11.7 million without being subject to federal estate tax. That high exemption amount may change under the Biden administration. Now is the time to speak with your advisor about reducing or eliminating your exposure to estate tax.[1]
Current estate tax laws
In 2001, the federal estate tax exemption amount [2] â the amount a person can gift during lifetime or transfer at the time of death â without being subject to estate tax was $675,000. The top estate tax rate was 55 percent.Â
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Appleton-based Epiphany Law to join Davis|Kuelthau
The attorneys and staff at the Appleton-based Epiphany Law are joining Davis|Kuelthau.
A D|K spokeswoman said eight attorneys, five paralegals and support staff will join D|K on March 1. The team includes attorneys Michael Bendel, Kathryn Blom, Kevin Eismann, Patrick Furman, Heather Macklin, Rob Macklin, Alexis Merbach and Jonathan Walsh.
For 17 years, Epiphany Law has provided business-law services to small- to mid-sized businesses, corporations and entrepreneurs in industries like construction, distribution, finance, manufacturing, real estate and retail. The new, combined regional team will offer a full suite of business law services, including employment, intellectual property, litigation, mergers and acquisitions, succession planning, tax, and estate and wealth planning for individuals.
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