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The House Democrats have proposed that Effective as of the date of enactment, grantor trusts will be included in the grantor decedent’s taxable estate.
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Don’t wait...act now!!! Contact your member of Congress and tell him/her; No, this proposal is wrong! Grantor Trusts should not be included in a person's estate!!
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Forms of grantor trusts have been utilized for decades as an important tool to allow the orderly transition of owned family businesses, built on a lifetime of saving, to the next generation and to provide liquidity through life insurance upon the death of a family member. The proposal will force the sale of illiquid family businesses by subjecting the value of the business held by a grantor trust to estate taxes and include life insurance proceeds in a trust in the decedent’s estate.
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The provision will limit the ability to provide support for a surviving spouse through Spousal Lifetime Access Trusts. Individuals should be able to fully use their estate and gift tax exemption and also provide maximum support for his or her spouse. The changes proposed will hinder the ability of one spouse to support the surviving spouse.
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About Policy and Taxation Group
Policy and Taxation Group is your voice in Washington on economic freedom. We advocate for policies that allow American families to fully enjoy the economic liberties and benefits of a robust free market unique to our nation. For over 25 years, we have been the loudest voice in the nation’s capital on eliminating the death tax. This ill-conceived tax has a destructive impact on families, family businesses, job creation, and the national economy.
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Have questions or would like more information about becoming a Supporter or donating? Please contact John Marino at [email protected].
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