We are all watching the developments of the coming November election, in an environment of great uncertainty. But one thing is clear. If the election results in the Democrats controlling the White House and both houses of Congress, it is likely that taxes of all kinds will be increased, particularly the overall tax burden on higher net worth individuals. As a result, it is important that wealthy taxpayers carefully and promptly assess their opportunity to take advantage of current tax benefits as those benefits may disappear, possibly effective as early as January 2021. This article focuses on federal estate and gift tax law provisions that may be affected by potential near term legislative change enacted in 2021 and describes certain planning techniques that might be implemented before year end.