Coronavirus Could Spell the End of Prior Tax Planning Structures
Partner David Scott Sloan’s webinar titled “Brilliant Estate Planning” was cited in a recent TaxNotes article about the future of tax planning structures following COVID-19. Estate tax planning structures that have performed well for years might need to be unwound to generate fast cash as wealthy taxpayers grapple with the economic effects of the coronavirus.
“These days, given the COVID-19 crisis and all that’s going on, cash is king,” Mr. Sloan said. “Values are down in the marketplace across the board. People may be looking at their estate plan and thinking, ‘You know, this was a great idea, but right now, I want to keep what I have.’”