reports House passes Senate version of Death Tax Deal

Shortly before 9pm tonight, driving a remote stretch near Death Valley on my way to a Front Sight rifle class, I heard breaking news about death tax reform passing Congress. Cam of did a great job following this as it broke. Looks like the House has passed the Senate’s version of the tax bill. Whatever the merits of the rest of the bill, I think the increase in the estate tax exclusion and reunification with the gift tax, and especially the new portability of exclusion between spouses, are all great news for families, more of whom will now be able to implement estate plans less driven by taxes, although many will still opt to have subtrusts to deal with remarriage, lack of citizenship, or for asset protection or to freeze expected appreciation out of their estate, etc.

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