"Pandemic Provides Challenges and Opportunities for Estate Planning"

Article by Thomas Jones and Jasmin Severino Hernandez on "Pandemic Provides Challenges and Opportunities for Estate Planning"

In an article published on May 14, 2020 in the Daily Report, Thomas E. Jones and Jasmin Severino Hernandez discuss the unique opportunities businesses and estate planning clients can take advantage of, such as lower valuations and interest rates, as a result of the COVID-19 pandemic.

“In this environment, it is possible to transfer assets from parents to children or grandchildren, either directly or in trust, using valuations and interest rate assumptions that minimize the estate and gift tax costs of such transfers. Since the amount of the transfer tax bite is based on a percentage of the current value of the subject asset, transfers made during this time of depressed values can be made at a much lower tax cost than likely will be the case after the economy recovers,” explain Jones and Severino Hernandez.

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• Jones and Hernandez article in the Daily Report_05 14 20.pdf