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Estate Planning in 2021 and Beyond: The Possible Impact of Democratic Control in Washington | Blank Rome LLP


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The Democrats now have effective control over the presidency, the Senate, and the House, at least until the 2022 mid-term elections. These political realities, along with current economic conditions, make it more likely that significant changes to the existing income, gift, and estate tax regimes are imminent, if not this year, then at least before the end of 2022. The possibility of these changes makes 2021 an opportune time to review and potentially implement estate planning strategies, which could save your family millions of dollars of taxes.
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