I lectured for the PICPA on Friday 12/7/2018 and critical to that discussion was the current exemption of $11,400,000 in 2019 and the fear of claw-back. Thus, depending upon where the Federal Estate Tax Exemption will go, dictates the level of complex estate and income tax planning you should consider while the exemption is at $11,400,000 in 2019. Indeed if a progressive mindset dictates a lower exemption (in 2016 Hillary Clinton ran on a platform of a $3,500,000 exemption) in the future, planning in 2019 and 2020 are critical to navigate use of freeze techniques (such as a SLAT) today utilizing an exemption of $11,400,000 in contrast to when it may be too late at $5,000,000 or even lower).
See also: https://www.journalofaccountancy.com/news/2018/nov/estate-gift-tax-exclusion-before-after-tcja-201820153.html
Section 11061 of the TCJA amended section 2010(c)(3) to provide that, for decedents dying and gifts made after December 31, 2017, and before January 1, 2026,
the BEA is increased by $5 million to $10 million as adjusted for inflation (increased BEA). On January 1, 2026, the BEA will revert to $5 million. Thus, an individual or the individual’s estate may utilize the increased BEA to shelter from gift and estate taxes an additional $5 million of transfers made during the eight-year period beginning on January 1, 2018, and ending on December 31, 2025 (increased BEA period).