Potential for the estate exemption to go down to $5M indexed for inflation on January 1, 2022.

Date of Enactment Changes
Changes to grantor trust rules – inclusion of grantor trusts in the estate for post enactment transfers.

  • If selling or transferring assets to a grantor trust, these transfers must be transferred before date of enactment.
  • This would include Spousal Lifetime Access Trust planning.

Modification to the estate tax valuation rules will be effective on date of enactment. This will take away minority and marketability discounts for sales and gifts of passive assets.

  • If you want to gift or sell passive assets and utilize a minority and/or marketability discounts you must complete the gift or sale prior to the date of enactment.

Please contact your Somerset advisor at 317.472.2200 or with any questions.