ChesterNewMatter4thQtr2021 - 27

CCBA Feature
3. Valuation Discounts.
Currently, valuation discounts, such as discounts for lack
of marketability and minority interests, are allowed for
transfers of non-business assets for estate and gift tax
purposes. The proposal would eliminate the valuation
discounts for non-business assets. Non-business assets are
defined as passive assets that are held for the production or
collection of income and are not used in the active conduct
of a trade or business. The proposal would apply to
transfers after the date of the enactment of the legislation.
Consider making gifts that are currently eligible for
valuation discounts.
Fortunately, the committee's proposal notably omits,
when compared to the President's proposals, a provision
that would eliminate the stepped-up basis for inherited
These are just the current proposed legislative changes.
It is unclear if the proposed changes will be enacted as
presented or if the legislation will be further modified.
No one has a crystal ball. But you should be aware that
Congress is actively looking to make changes to the federal
estate and gift tax laws.
If you have been contemplating doing some advanced
estate planning to take advantage of the current estate and
gift tax laws, your window of opportunity may be closing.
If you have any questions about these or any other estate
planning matters, contact Stephanie P. Kalogredis at Lamb
McErlane PC.
Stephanie concentrates her practice in estate planning and
estate & trust administration and wealth transfer and succession
planning. She assists her clients in finding personalized solutions
to meet their estate planning goals through the use of wills, trusts,
gifting and legal agreements and when the time comes, helps settle
estate and administer trusts. 610701-4433.
Exclusive Offers
for Attorneys
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New Matter | 27
Glen Reyburn, ChFC®
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Office: 484.956.0490
Cell: 610.420.8813


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