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Administration's Proposed New Tax on Family Trusts.

Administration's Proposed New Tax on Family Trusts.

Each 90 years, trusts will pay the new 45 percent estate tax.  The tax is on the value of its assets.   Trust funded before this law is passed are exempt. You need to move fast.

The Administration hasissued a 200-page report with new tax laws including this law. While many new loopholes and tax breaks are included, estate planners must work quickly to rescue their clients.  

This law is effective for every trust funded at the date of enactment.

Read more at: Tax Times blog

 
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