Taxes
Rich in U.S. Grab Historic Chance to Pass On Wealth Tax-Free
- Falling rates make May the best month ever for family loans
- Stuck at home, the wealthy have more time for estate planning
This article is for subscribers only.
Rich Americans are taking advantage of an unprecedented opportunity, made possible by the coronavirus pandemic, to transfer money to their children and grandchildren tax-free.
Thanks to the 2017 Republican tax overhaul, it was already easier than ever to avoid the U.S. estate and gift tax, a 40% levy on the biggest fortunes. Now, plunging interest rates and volatile equity markets are creating a once-in-a-lifetime chance that’s keeping wealth advisers busy even as they work from home.