FOR IMMEDIATE RELEASE
Washington, DC – May 2, 2022: The American College of Trust and Estate Counsel (ACTEC) today released the video A Proposal to Repair Racial Wealth Disparity, in which experts in tax law present their research on racial wealth disparity and provide options for funding and making reparations to Black Americans. The video is part of the College’s informational series Planning for a Diverse and Equitable Future, a project of ACTEC’s Diversity, Equity and Inclusivity Committee, funded by The ACTEC Foundation.
Repairing the wealth divide due to past and ongoing racist policies and practices seems overwhelming, but with conversation and research come solutions. ACTEC Fellows share their research and suggestions for a new future. Sarah Moore Johnson offers recommendations for building communities through a new type of charitable organization. Professor Phyllis Taite examines the history of wealth disparity in regard to U.S. tax policy. And, Raymond C. Odom explains the history of the estate tax as a tool to reduce wealth inequality generally and promotes its use to find possible options for repairing racial wealth disparities.
Series host and executive producer, ACTEC Fellow Terrence M. Franklin states, “This video may be the most important we’ve produced. Please take the time to watch this video to better understand the issues and our nation’s potential path for an equitable future.”
For further information about ACTEC’s Planning for a Diverse and Equitable Future series, please visit actec.org/diversity.
About The American College of Trust and Estate Counsel (ACTEC): Established in 1949, The American College of Trust and Estate Counsel (ACTEC) is a national, nonprofit association of approximately 2,400 lawyers and law professors from throughout the United States and abroad. ACTEC members (Fellows) are peer-elected on the basis of professional reputation and expertise in the preparation of wills and trusts, estate planning, probate, trust administration and related practice areas. The College's mission includes the improvement and reform of probate, trust and tax laws and procedures and professional practice standards. ACTEC frequently offers technical comments with regard to legislation and regulations but does not take positions on matters of policy or political objectives.
About The ACTEC Foundation: The ACTEC Foundation is the philanthropic arm of The American College of Trust and Estate Counsel or ACTEC. The Foundation is a nonprofit, 501(c)(3) that offers education to families and professionals and supports students interested in the trust and estate area of the law. Through continued financial support, The ACTEC Foundation offers professional development, scholarships and education for a number of important efforts, including legal education, educational support, public initiatives, legal publications and the student editorial board.
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