Why Now Is The Time For You To Talk To A Valuation Discount Planning Attorney

Lately, we have been meeting with Estate Planning Attorneys, CPAs, and business owners who have all expressed serious concerns about addressing their clients’ needs amidst the upcoming tax legislation that will bump the estate tax up to 45% and reduce much of the gifting currently allowed through the IRS Gift and Estate Tax code (26 U.S. Code Subtitle B – Estate and Gift Taxes.)


This past weekend, there was an article titled: Peter Thiel May Have Blown Up Your Roth by Laura Saunders. In essence, what it boils down to is that “[t]he retirement accounts of the superrich could prompt rule changes for the rest of us.” Because some of the wealthiest in this country have been advantaged in putting away assets in Roth IRAs where money grows tax free and there are no withdrawal requirements, Congress is seriously looking at this dilemma on why they feel the wealthiest are not paying their fair share. Currently, Senate Finance Committee Chairman, Ron Wyden (D., Ore.) is on a mission and has vowed to push for curbs.


While the IRAs were created and specifically designed to establish a retirement security for middle class families, the new proposals on setting limits should be cause for concern about saving strategies for everyone, not just the wealthy.


Many strategists are proposing converting traditional IRAs to Roth IRAs, where the taxes get paid up front to avoid assumed higher tax rates in the future. These partial conversions are a good placed to start, but what about those individuals, families, and business that have a slightly more complicated portfolio? This is where Valuation Discount Planning can play an important role in structuring assets to minimize taxation and preserve wealth in the family.


Finding an Estate Planning Attorney who does Valuation Discount Planning is not as easy as one might think. It is a specialized subject matter that many attorneys are not familiar with, because only a select few attorneys in this country have been exposed to the resources necessary to perform extensive audits and specialized discounting strategies that will stand up and protect the client as well as the attorney(s).


We have the network of consultants to compliment the strategies your Estate Planning Attorney uses; many find that our information is not well known and therefore not widely used. Talk with us today to find out if you qualify for the unique tools we use to work hand in hand with your trusted advisors.


Contribution to this article: Valerie Clark, July 5, 2021.


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