This year certainly has seen more than its fair share of disruption and many are looking forward to bidding a not-so-fond farewell to 2020. Much has been written (by us and others) about potential large changes to tax laws that might occur under a Biden administration. Although wholesale change looks less likely, assuming the Republicans retain control of the Senate, that uncertainty nevertheless remains. 

Having said that, whether or not big changes to tax laws are afoot, the “every year” tax strategies are still important to consider. Although these may be somewhat mundane and easily overlooked, especially given the spectacle of the election and the spike in COVID-19 cases, they are as important and valuable as ever.

Based in Boston, Hemenway & Barnes LLP has served for 150 years as trusted counsel to the region’s high net worth families, businesses, and nonprofit organizations. The firm is uniquely designed as a home for legal and financial expertise, with a focus on providing each client with services that are specifically tailored and results-oriented. Areas of expertise include estate planning, litigation, corporate work, and real estate. Its affiliate, Hemenway Trust Company LLC, is a New Hampshire based, private trust company offering a full range of wealth advisory and management services.