Estate Planning Tools Affected by President’s Budget Proposal

Contested Will 1

The new budget proposal targets various estate planning tools utilized by taxpayers in an effort to limit tax loopholes and generate revenue

In the midst of the budget battlefield, many estate planning attorneys are closing watching the President’s budget proposal. Why such interest? Well, beyond the Military spending and health care sections, the proposed budget targets numerous estate planning tools and techniques.

Forbes has been watching the various budget proposals with great interest and provided a helpful summary in an article titled “Obama's Budget Proposal: The Impact On Estate Planning Tools.

Essentially, this is a crib sheet list of the techniques presently in the crosshairs:

  • High value IRAs of over $3 million
  • Generation Skipping Transfer Trusts
  • Dynasty Trusts
  • Grantor Retained Annuity Trusts (GRATs)
  • Intentionally Defective Grantor Trusts (IDGTs)

Click over to the article for an overview of the techniques, along with examples of their estate planning applications.

If your current estate plan already includes one or more of these techniques, then any change could impact you, your loved ones and your assets in a significant way. This would be a good time to schedule a review consultation with your own estate planning attorney.

To talk to an attorney about your estate planning needs, visit

Reference: Forbes (April 26, 2013) “Obama's Budget Proposal: The Impact On Estate Planning Tools