Previewing and Prognosticating Potential 2023 Treasury RegulationsPreviewing and Prognosticating Potential 2023 Treasury Regulations

Driven by client demand and the inherent nature of estate planning, where the tax impact can’t truly be calculated until years after the planning is first implemented, practitioners often need to look into their crystal balls to predict what changes in the law may be on the horizon. With the outcome of the November 2022 election resulting in a Congress that will no longer be controlled solely by Democrats, it’s less likely that any substantial tax legislation that would have a bearing on trusts and estates will make it to President Biden’s desk when compared to the first two years of his administration. This anticipated dearth of legislation doesn’t mean 2023 will be a year of no changes. Various regulatory projects are in the works that...