|
|
The House Democrats have proposed that Effective as of the date of enactment, grantor trusts will be included in the grantor decedent’s taxable estate.
|
Don’t wait...act now!!! Contact your member of Congress and tell him/her; No, this proposal is wrong! Grantor Trusts should not be included in a person's estate!!
|
Forms of grantor trusts have been utilized for decades as an important tool to allow the orderly transition of owned family businesses, built on a lifetime of saving, to the next generation and to provide liquidity through life insurance upon the death of a family member. The proposal will force the sale of illiquid family businesses by subjecting the value of the business held by a grantor trust to estate taxes and include life insurance proceeds in a trust in the decedent’s estate.
|
|
The provision will limit the ability to provide support for a surviving spouse through Spousal Lifetime Access Trusts. Individuals should be able to fully use their estate and gift tax exemption and also provide maximum support for his or her spouse. The changes proposed will hinder the ability of one spouse to support the surviving spouse.
|
|
|
|
|
|
|
|
Please stay safe and healthy,
|
pmsoldano@family-enterpriseusa.com
712 H Street NE Suite 1330
|
|
|
|
About Family Enterprise USA
Family Enterprise USA advocates for American Family business. We help family businesses communicate their challenges and contributions to American economic freedom to Legislators. We represent all American family businesses; not just specific industries and provide research to enhance the opportunity for success. We help family businesses continue to establish their unique business legacy. Family Enterprise USA is a 501(c)(3) non-profit organization.. Family foundations can donate.
|
|
|
|
|
Have questions or would like more information about becoming a Member or donating? Please contact John Gugliada at jgugliada@family-enterpriseusa.com.
|
|
|
|
Family Enterprise USA Sponsors
|
|
|
|
|
