Biden’s plan for inherited real estate may impact more people than just the wealthy
April 29, 2021
President Joe Biden has unveiled a plan for higher taxes on inherited homes to help fund the $1.8 trillion American Families Plan.
The proposal would tax inherited property gains at death, targeting generational wealth transfers.
But financial experts say the measure may impact more families than just affluent ones.
“I think it could become a quagmire from a couple of different fronts,” said certified financial planner Ken Van Leeuwen, founder and managing director of Van Leeuwen & Company in Princeton, New Jersey.