News & Resources

Pitfalls and Opportunities Under the New Federal Tax Law

Part 1: Pitfalls

Dennis Delaney and Kevin Ellis


In this multipart series, we explore the tax planning opportunities and pitfalls created by the temporary increase in the federal estate tax exemption from $5.5 million to $11.18 million.

First we will look at potential pitfalls, including the risks that the increased exemption could potentially: (i) thwart a goal to make your spouse the first priority under your estate plan, (ii) prioritize grandchildren over children, and (iii) trigger estate tax at the state level for a married couple when the first spouse passes away. We also describe the risks of a few cutting edge approaches that some advisors are advocating.

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