073: Implications of Biden’s Tax Proposal: The American Families Plan

The latest large proposal of the Biden administration is The American Families Plan.  The debates in creating this large tax plan are huge, everchanging and cross party lines.  Patti meets with Bill Cass, the Director of Wealth Management for Putnam Investments to discuss the implications of the proposal as it looks now in the summer of 2021.  They discuss the tax law changes that will most likely get passed later this year, as well as the proposed changes that are rumored to be eliminated from the final proposal of the bill before it is passed.  Patti and Bill share how high net worth individuals, corporations and anyone with an estate plan that involves gifting and Trusts will learn a few surprises that may come with the President’s new tax proposal.