Rushed gifts backfire as permanent tax exemptions arrive
Wealthy families who hurried to gift assets to lock in the temporarily higher gift exemption under the TCJA may regret the move now that Congress made those exemptions permanent. While unwinding irrevocable gifts is possible, it is usually difficult and costly; options like decanting, moving trusts to friendlier states, or using trust protectors can modify terms, but the core lesson is that the decision to give was not wrong, just driven by evolving tax rules.