After living through a campaign season we may see “hope and uncertainty” as the themes in this new year. The reality is that the economic outlook over the next 12 months is far less certain than in the previous 12 months due to the results of the elections and the upcoming European elections. Political discussion points toward the potential for tax reform, but what that might mean will be unknown for some time. Any type of tax reform will influence estate planning measures and taxes. The incoming administration has promises to fulfill and the Republican majority has certain proposals to address. In large part this program will cover what many are anticipating will occur and what might not happen under the new administration.
M. John Way is a shareholder with the firm of Schwabe Williamson and Wyatt in Seattle. He holds a Bachelor of Arts from Northern Illinois University and a Juris Doctorate from Tulane University Law School and earned his LLM in Taxation from the University of Washington. John advises private business owners throughout their entire business cycle including wealth preservation and estate planning. He is an Adjunct Professor at the University of Washington’s School of Law, teaching in the Masters in Taxation Program.