Friday Estate Planning Links

Interesting links dealing with estate planning, wills & trusts, and the like appear all the time on the internet. Here are a few for your reading pleasure:

Estate planning: A must for all physicians from Helio.com

International Estate Planning from Forbes.com

The Tax Elasticity of Capital Gains and Revenue-Maximizing Rates could be a harbinger of things to come: increases in the capital gains tax rates. Per the abstract of the article:

This paper uses an event study approach to estimate the effect of capital gains taxation on realizations at the state level, and then develops a framework for determining revenue-maximizing rates at the federal
level. We find that the elasticity of revenues with respect to the tax rate over a ten-year period is -0.5 to -0.3, indicating that capital gains tax cuts do not pay for themselves, and that a 5 percentage point rate increase would yield $18 to $30 billion in annual federal tax revenue. Our long-run estimates yield revenue-maximizing capital gains tax rates of 38 to 47 percent (emphasis supplied).

In other words, the maximum rate imposed on capital gains on property held longer than 1 year could jump from 20% to as high as 47%–if Congress needs the money. What are the chances?

Core Documents to Review During a Pandemic from Trusts & Estates magazine.

Enjoy and have a great weekend.

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