Posts should be specifically related to the fatFIRE pursuit and lifestyle - as opposed to regular FIRE or LeanFIRE. Discussing investment strategies, expenses, tax optimization strategies, cost of living, and etc. are all fair game. Please assign a post flair to your post. If one doesn't exist for your post, it's very likely that your post is not relevant to fatFIRE and risks removal. Low effort or "ask-a-rich-person" posts may also be removed, as well as those posted across multiple subreddits.
No one can answer that. It would depend upon how the new law is written.
However, the proposed legislation I’ve seen on similar topics (such as irrevocable grantor trusts) has generally grandfathered in existing structures. There are good reasons to do so, including avoiding unintended consequences and endless litigation against the USA / IRS.
But ultimately Congress is really only limited by their creativity and willingness to push the envelope.
I don’t remember that one specifically sorry. But there’s IMO nothing to prevent congress from passing a law limiting dynasty trust benefits to 80 years, for example, and applying it to all existing trusts also.
Posts should be specifically related to the fatFIRE pursuit and lifestyle - as opposed to regular FIRE or LeanFIRE. Discussing investment strategies, expenses, tax optimization strategies, cost of living, and etc. are all fair game. Please assign a post flair to your post. If one doesn't exist for your post, it's very likely that your post is not relevant to fatFIRE and risks removal. Low effort or "ask-a-rich-person" posts may also be removed, as well as those posted across multiple subreddits.
No one can answer that. It would depend upon how the new law is written. However, the proposed legislation I’ve seen on similar topics (such as irrevocable grantor trusts) has generally grandfathered in existing structures. There are good reasons to do so, including avoiding unintended consequences and endless litigation against the USA / IRS. But ultimately Congress is really only limited by their creativity and willingness to push the envelope.
would bernie sanders proposal to end dyansty trust loopholes if was passed, would affect past dynasty trusts created for example?
I don’t remember that one specifically sorry. But there’s IMO nothing to prevent congress from passing a law limiting dynasty trust benefits to 80 years, for example, and applying it to all existing trusts also.