Extending the Estate Tax Exemption: Likely With Trump, But Not a Given

In other cases, clients with charitable giving goals could be motivated to pass along assets to meet current or emerging demands. This is another domain where gifting assets ahead of potentially substantial economic growth can benefit both parties.

“Plan with flexibility in case the rules make an unexpected changes,” Farrell wrote. “Non-tax reasons for planning still exist.”

These include succession planning and business continuity concerns, consolidation of assets, asset protection and more. Also, as Kirkman pointed out, advisors should remind clients that some planning strategies typically produce more value the longer they are in effect.

“So, don’t wait on potential changes or reform, especially for high-net-worth clients who will have assets grow over the next 20 years,” Farrell wrote. “This is a great time for financial advisors to show their value to clients, and an example of why it is so helpful to have technology like Vanilla to show a clear picture of where things stand and strategize for the future.”