Tax and financial planning news from around the web: June 13 – 17, 2022

Rising cost of living hurts U.S. consumer confidence, house prices soar 
U.S. consumer confidence eased modestly in May as persistently high inflation and rising interest rates force Americans to become more cautious about buying big ticket items, including motor vehicles and houses, which could curtail economic growth. 

Beware the generation-skipping transfer tax 
Due to recent tax law changes, families may be able to avoid adverse federal estate tax consequences when leaving assets to adult children. But what about assets gifted or bequeathed to grandchildren? That’s a whole other ball of wax.