Throughout Southern California
View Our Practice Areas

How Will Trump's Election Affect Wealthy Estates?

President-elect Trump had presented a number of proposals for changing the tax code

The press is now exploring the impact of the various changes to the tax code proposed by Presidential candidate Donald Trump during his campaign and what impact they might have on dynastic wealth now that he is President-elect in "Trump's Changes to the Tax Codes May Encourage Dynastic Wealth."

The biggest change Trump has proposed is to eliminate the estate tax, which would obviously make it easier to keep money in the family. He has also proposed changes to how inherited capital gains would be taxed. It appears that no capital gains would ever be taxed as part of the estate until the asset was sold.

This includes interests in family businesses. That would also make it easier to keep inherited wealth in the family. Trump has also indicated that he would limit charitable deductions, which has some worried that less money will go to charity. Taxes such as the gift tax and the generation-skipping tax could also be repealed.

Of course, until Trump proposes legislative action we cannot be certain what he will do and whether it is likely Congress will agree with the plans.

An estate planning attorney can advise you on creating an estate plan under the present tax codes as well as keep the plan up to date with any changes in the future.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Find Out The Difference That Experience And Expertise Makes

Get the peace of mind that you deserve. First, attend a seminar. This will entitle you to a free initial consultation and a discounted estate planning fee. To learn more about our services or sign up for a seminar, contact us online or call us at 866-402-1805. We have offices in Torrance, Orange, Newport Beach, Pasadena and Woodland Hills.

Questions? Contact Us.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Call Now For A Free Consultation: 866-402-1805
  • ${site.data.firmName}${SEMFirmNameAlt}
  • Main Office: Torrance

    Torrance Office
    990 West 190th Street
    Suite 500
    Torrance, CA 90502

    Toll Free: 866-402-1805
    Map & Directions

    Orange Office
    333 City Boulevard Street
    17th Floor
    Orange, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Newport Beach Office
    5000 Birch Street
    Suite 8000
    Newport Beach, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Pasadena Office
    790 East Colorado Boulevard
    9th Floor
    Pasadena, CA 91101

    Toll Free: 866-402-1805
    Map & Directions

    Woodland Hills Office
    5850 Canoga Avenue
    4th Floor
    Woodland Hills, CA 91367

    Toll Free: 866-402-1805
    Map & Directions

    Office map