Cara Koss Discusses Wealth Tax Planning Strategies in Barron’s

Cara Koss, Arnold & Porter partner who leads the firm’s Private Client Services team, was quoted in the recent Barron’s article, “Wealth Taxes Can Be Skirted. 5 Smart Tips for the Rich,” which examines how high-net-worth individuals are responding to proposed state-level wealth taxes and explores a range of estate planning strategies shaping wealth management in response to shifting tax policy.

Cara highlighted the practical implications of state tax proposals targeting high-net-worth individuals, noting that relocation remains a key consideration for those affected. “The one benefit of being a state proposal is that the obvious solution is to get out of that state,” she said, adding that many clients have already moved away from high-tax jurisdictions.

She also emphasized the importance of careful planning when establishing residency in a new state, observing that jurisdictions apply varying standards and enforcement approaches. Cara further noted that while federal wealth tax proposals continue to be discussed, advisors are not currently treating them as an immediate concern, cautioning against overreacting to proposals that may not advance.

In addition, Cara pointed to evolving legislative tactics that may limit tax planning opportunities, emphasizing the continued need for diligence as proposals advance.

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