I have spent a lifetime eating hamburger instead of steak, buying clothes and shoes at thrift shops, just to be able to invest in several houses. The plan was to leave them to my children with a large savings on capital gains tax. Now it is rumored that Biden will try to eliminate that benefit. Be aware of this possibility.
Create a trust fund. Put the properties into trust. Make your kids the inheritors, er, managers of the Trust Fund when you die.
I don’t know if he can do it by an EO or not. Other wise it wont pass congress.
looks like congress has to pass any changes to the tax code so its not likely it will happen.besides so many of the super rich that will be effected are dems.