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Looking at some of the changes a Trump presidency is likely to bring

Last week's election results have been on everybody's mind, including those who are happy about the results, those who are not, and everybody in between. Regardless of where you fall on the political spectrum, the election results were largely unexpected and have significant implications.

For many people, questions remain about what a Donald Trump presidency will bring, particularly given the fact that Republicans remain in control of Congress and President-elect Trump will likely have the ability to appoint more than one new justice to the Supreme Court during his time in office. While it isn't clear exactly what changes in the legal landscape are in store in the coming months and years, Trump's stated plans for his first 100 days in office do give us some indication of the kinds of policies he will pursue and the general direction he will be going.

We do know that changes are most certainly coming in the area of immigration law, an area of practice in which our firm specializes. Trump has also promised significant tax cuts for the middle class, and this is bound to have an impact on families in the areas of divorce and bankruptcy, as well as estate planning, probate and estate administration. His promise to create tax-free Dependent Care Savings Accounts that can apply to both children and elderly Americans could impact how Americans do retirement planning, at least to an extent.

Changes are coming, as well, for businesses. Among these changes are promised tax cuts--Trump plans to cut the business tax rate from 35 percent to 15 percent. He also plans to pursue policies that will bring about changes to different industries, including health care, manufacturing, energy and infrastructure, as well as retail. In our next post, we'll continue looking at this topic, as well as expected changes in the real estate industry. 

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