PROPOSED CHANGES TO THE ESTATE/GIFT TAX

  Senator Bernie Sanders (D-VT) introduced legislation that, if passed, would have a significant impact on the transfer tax system of the United States. The proposed legislation includes the following changes: Estate tax exemptions of $3.5 million Gift tax exemptions of $1 million $20K annual gift tax exclusion 50-year limit on Generation-Skipping trusts (GST) Grantor…