Another part of the Obama-McConnell tax bill:
The law's $5 million per person gift tax exemption, raised from $1 million, gives high-net-worth people an unprecedented opportunity to give more money tax-free to family members, says Jonathan Bergman, vice president at Palisades Hudson Financial Group, a financial adviser in Scarsdale, NY, catering to the affluent.
This provision seems to be incremental to the estate tax changes, and makes it even easier to build up and retain wealth in a family, without taxes.
I completely missed this item in the tax bill.
Let's help out the top 400 families just a bit more, OK?