Biden to Omit Estate Tax Expansion from Economic Plan—How Does This Affect Your Real Estate Portfolio?
Eric Garfield • 6/15/2021
The recent announcement that the Biden economic team plans to forgo an estate tax expansion may quiet marketplace speculation near-term, but revisiting a real estate-related estate portfolio now is prudent advice from industry experts.
Today’s Window of Opportunity…
Despite no anticipated estate tax law changes, we’re still living and doing business in a limited window of opportunity. Real estate was not immune to the economic impacts wrought by the global pandemic. The existing estate tax law (if unchanged) will sunset in 2025. The disruption in the marketplace coupled with a probable near-term change to estate tax law provides investors a unique opportunity to plan under the existing law ($23.4M/married couple at a 40% tax rate) and during pandemic conditions, before the 2025 sunset. Informed by announcements by major employers, many of us at Cushman & Wakefield expect a surge of return-to-work after Labor Day that should again change the direction of real estate fundamentals and improve market conditions.
…and How to Make the Most of It
If you do revisit your estate plan, it’s important to talk to a provider experienced in working on portfolios from inception through IRS examination, with diversified case experience covering many issues, legal jurisdictions and property types.
Cushman & Wakefield offers real-time market intelligence, drawing on a market-leading team. Powered by a platform with extensive Brokerage and Asset Services resources, Cushman & Wakefield valuation professionals deliver an authoritative work product prepared for IRS examination defense. Valuation & Advisory professionals are fully licensed and most have the prestigious MAI designation. V&A’s national scale combined with our experience in litigation support provides our clients with sound, market-based solutions for estate portfolio valuations. Our bench of subject matter experts assist in providing guidance on complex real estate matters. Click here [link to V&A page] to review more about Cushman & Wakefield’s Trusts & Estates expertise.
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