Will there be an adjustment to the current estate tax and if so what planning strategies may be helpful to think about and potentially implement Potential estate tax changes include, Potential change in exemption amount, Under current legislation the federal estate tax exemption is $1361 million per individual¹ This is set to expire/sunset in 2025 at which time the exemption amount would revert to pre-2018 levels ($5 million per individual There is also consideration of further reducing the exemption to $35 million per individual ($7 million for married couples  In addition to the reduction of the exemption there…, Potential change in step-up in basis, Another change that has been proposed would impact the ability to obtain a step-up in basis Under current tax law upon an individual’s passing any asset includable in their estate receives a “step-up” in basis Basis determines potential capital gains upon a sale of a stock or other asset  For example consider an individual who purchased a  stock when the cost was $50 per share and now the value …, Planning strategies, So what now What planning can be done today to help save potential estate taxes in this potentially new environment The answer is it depends on several factors including the following What are your needs How much control do you want to maintain over assets How old are you Are you married Do you have children Are you charitably inclined What is the size of your balance sheet and what are the…, SLAT (Spousal Lifetime Access Trust, As the name suggests a SLAT is an irrevocable trust where one spouse makes a gift into a trust to benefit the other spouse (and potentially other family members while removing the assets from their combined estates Highlights include Gift assets to be held in trust for spouse Indirect access to funds during both lifetimes Allows couple to utilize existing exemption amount while still maintaining…, Family Limited Partnership (FLP, A family limited partnership (FLP is a holding company owned by two or more family members created to retain a familys business interests real estate publicly traded and privately held securities or other assets contributed by its members Highlights include Create structure wherein family has an interest in assets Allows gifting of funds at potentially discounted valuations Donor can maintain…, Accelerate lifetime gifting to next generation (can also be done through FLP, Accelerated lifetime gifting can reduce your estate taxes and also protect those assets you don’t need to support your lifestyle Lifetime gift to children (in name of trust Removes assets from estate Transfer funds to an irrevocable trust for a child’s benefit (which adds creditor protection maintains a sense of control and is not includable in the child’s estate The above are just a sampling of…, Published February 2025, Sources 1 https//wwwkiplingercom/taxes/estate-tax-exemption-amount-increases, Mesirow does not provide tax or legal advice 

We continue to learn more about the details of the horrific attacks against Israeli civilians by Hamas These barbaric acts put us in a state of shock and mourning and for many of us trigger a deep-seated trauma based on history and collective memory We are deeply saddened by the prospects of a drawn-out war that will lead to further tragedy in Israel and Gaza and worry about an upcoming…

The COVID pandemic exposed the risk of supply chain concentration particularly offshore, While offshoring has buttressed company profits and shareholder value for more than half a century many firms are now wondering if there’s a better way — one that allows them to shorten supply chains and reduce the potential for major interruptions caused by political strife global weather events or other exogenous factors The challenge is how to bring manufacturing closer to home while…

Test & measurement and industrial automation sector update, Valuations across the Test & Measurement and Industrial Automation (TM&IA sector remain under pressure Currently the sector is trading below the 5-year average in terms of EV/EBITDA and well below 1Q2021 highs Valuation Performance Chart That said analysts’ growth expectations have revised up for the Test & Measurement sector compared to growth targets set at the beginning of the year…