President Joe Biden addresses a joint session of Congress on April 28, 2021.
Melina Mara | Reuters
President Joe Biden has unveiled a plan for higher taxes on inherited homes to help fund the $1.8 trillion American Families Plan.
The proposal would tax inherited property gains at death, targeting generational wealth transfers.
But financial experts say the measure may impact more families than just affluent ones.
“I think it could become a quagmire from a couple of different fronts,” said certified financial planner Ken Van Leeuwen, founder and managing director of Van Leeuwen & Company in Princeton, New Jersey.
More from Personal Finance:
Workers could get 12 weeks of paid leave under…