Jennifer Arps is a Senior Client Advisor for MRA Associates. She serves clients with comprehensive wealth management needs out of our Minnesota office. Her focus is on tax and financial planning services, including areas such as executive compensation, estate planning, and estate and trust administration. In a technical and analytical industry, clients appreciate her ability to explain and apply complexities in a straightforward manner. After many years of tax planning experience, she recognizes the significant value added by managing for tax efficiencies in addition to meeting one’s complex tax filing requirements. She currently serves as a member of the MRA Associates Management Committee.
Jennifer has over twenty years of experience in the financial industry. Prior to joining MRA, she was the managing director at Dougherty Wealth Advisers LLC for 12 years and, prior to that, a senior manager at KPMG LLP. In these roles, Jennifer managed client relationships, comprehensive advisory content, and tax preparation for high and ultra-high net worth individuals, estates, trusts, private foundations, and closely held businesses.
She is a CERTIFIED FINANCIAL PLANNER TM professional. She graduated cum laude from Mankato State University with a Bachelor of Science degree in Business Administration: Finance.
Jennifer values multi-generational family time and appreciates having a large extended family. When she and her husband are not involved in their children’s activities, she enjoys gardening in the summer and cross-country skiing in the winter. She is also involved in her church and serves on the Minnesota 4-H Council under the University of Minnesota College of Extension.
The Biden tax plan, as you know, is released and receiving much commentary pre-election. Understanding that planning is difficult until we know the election outcome and the law, our comments on the tax plan are below.
Uncertainty is pervasive these days. However, we are all familiar with Benjamin Franklin’s quote, “…nothing can be said to be certain, except death and taxes.” With the 2017 tax law changes in the Tax Cuts and Jobs Act (TCJA), the amount of assets that someone can leave to his/her heirs without incurring estate tax increased significantly.
To gift or not to gift, that is the question. It is less complex than the famed question posed by Prince Hamlet, but still not a simple one for families that hold appreciated assets and are (or may be) exposed to estate tax.