Virus Chaos Creates Opening for Millionaires to Slash Tax Bills

Market uncertainty caused by the coronavirus pandemic has created an opportunity for the very rich to pass more wealth to their children free, or virtually free, of tax.

Many people are in financial distress because the pandemic has forced businesses to temporarily shutter their operations, leading to furloughs and layoffs across the country. But those with enough wealth to shield themselves from any real hardship may find that it is an ideal time to deploy new tax-planning strategies.

Depressed asset values, combined with historically low interest rates, ...