Working in the Washington, D.C., area, no matter who’s in the White House, I’m often thrust into conversations about tax policy. My clients tend to be more aware of various political issues and they’re particularly interested in tax law changes and how those changes affect wealth.
Historically those conversations have been more academic and almost theoretical. But in recent years, they’ve really changed as we’ve seen a psychological shift in how clients think about taxes, charitable giving, estate planning and inheritance. Once more hesitant to plan ahead, clients in today’s environment are much more proactive and willing to take action in the near term rather than waiting and risking having to pay higher taxes down the line.
Take, for example, recent Build Back Better bill conversations. With their negotiations and uncertainty, an…
