Reviving Estate Tax Rules Gives Opening to Take Aim at the Rich

Estate planners are keeping a close eye on the Treasury Department’s agenda, anticipating the possible revival of several regulatory projects shelved by the Trump administration.

Estates, gifts, and trusts were among the regulatory areas significantly cut back under former President Donald Trump—planned projects in that area were reduced to about a quarter of what was included in the Obama administration’s last priority guidance plan.

Some of the regulations, either withdrawn or made a low priority under Trump, would restrict access to tools for reducing estate tax bills, in effect acting as a tax increase without the hurdle ...