Discussing the Unified Framework for Fixing Our Broken Tax Code

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Episode Summary:

On September 27, 2017, President Donald J. Trump finally unveiled a framework for tax reform that proposes significant tax cuts for individuals and businesses, deconstruction of the tax code, and repeal of the estate and generation-skipping transfer taxes. Referred to as “revolutionary,” the Unified Framework, if passed, will have major implications for estate, business, and tax planners as well as their clients.

Listen as Andreea Olteanu, JD, Manager of Legal Education, and Patrick Carlson, JD, LLM, discuss the critical changes in the proposed tax code, what this means for trusts and estates attorneys, what it means for the individual business owner, and how to effectively educate your clients on this pending matter.



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Andreea Olteanu

About The Guest:

As Manager of Legal Education at WealthCounsel, Andreea works to deliver insightful content that allows attorneys to remain at the top of their fields. Andreea has more than a decade of experience as an attorney with prestigious New York City law firms, where she counseled ultra high net worth clients in estate planning and other areas of practice.

Episode Details

Episode Key Points:

(01:00) What is the “Unified Framework for Fixing Our Broken Tax Code”?

(02:24) How specific is the Unified Framework proposal?

(03:12) If the Unified Framework were enacted into law, how will that affect estate planning?

(05: 46) Should I start making changes to my current practice?

(07:46) Is this plan something to take seriously? Or, should I wait and see what happens?

(10:16) I’m an attorney, but I also run my own firm, how does this impact my business?

(10:58) What should I do right now?

(11:40) What should I start telling my clients to ensure their current plans are flexible enough for any future changes?


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Episode Takeaways:

Get an overview and analysis of the Unified Framework proposal in this Insight Brief, “First Look at the United Framework for Fixing Our Broken Tax Code,” WealthCounsel authored by Director of Education Jeramie Fortenberry, JD, LLM.


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