June 28, 2021

Hartford Business Journal interviewed Tax Partner Amber Monaghan about how any federal tax hikes will affect high net worth taxpayers in Connecticut.

Hartford Business Journal

By Martin Daks

Hartford Business Journal interviewed Tax Partner Amber Monaghan about how any federal tax hikes will affect high net worth taxpayers in Connecticut. Family Wealth Services

Excerpt:

“We’ve seen a surge of interest in people transferring their business interests to trusts — particularly during the COVID pandemic — since they may be able to value the business at a reduced amount, and when the economy rebounds and the business valuation rises, it will occur within the tax-advantaged trust structure…” At the same time, Monaghan warned that any specific tax law changes are not certain, and she’s in no rush to lock clients into new strategies before there’s some clarity.

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