Forbes interviewed Tax Partner Janis Cowhey about the increased lifetime estate and gift tax exemption.
By Ashlea Ebeling
“If they’re planners, and they’ve used up their lifetime exclusion, they’ll make gifts to vehicles already in place,” says Janis Cowhey, a CPA with Marcum LLP in New York City. For example, if they have a dynasty trust for their offspring, they may put another piece of their business or cash in. Or they can pivot to new strategies.