Incentivizing Wills Through Tax
ACTEC Law Journal, Vol. 47, No. 1, pp. 101-106, 2021
7 Pages Posted: 16 Sep 2021 Last revised: 10 Jan 2022
Date Written: August 15, 2021
There have been recent calls to loosen will formalities in order to allow more people to execute wills, the importance of which has been highlighted by the COVID-19 pandemic. The reduction of necessary will formalities can be successful in expanding the use of wills, as can potential tax incentives for creation of wills, such as a tax credit. However, there are numerous advantages to using tax to initiate change, as considered in this Article.
Keywords: tax, tax law, wills, trusts & estates, estate planning, COVID-19, coronavirus, pandemic
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