Client Alert: Potential Estate and Gift Tax Changes Under the Trump Administration

With the results of the recent U.S. election, the estate and gift tax world has once again been thrown into uncertainty.  The Treasury regulations proposed earlier in 2016 pertaining to the valuation of closely held business assets for estate and gift tax purposes are potentially “dead on arrival” under the new administration.  The fate of the estate and gift tax is equally uncertain because estate tax repeal is an agenda item under both President-elect Trump’s tax plan and the plan of House Republicans.