In this session, US tax expert Robert N. Gordon discusses some of the possible and probable changes to the US tax code that may occur following the 2016 election cycle, their potential impact on high-net-worth investors, and some actions advisers should consider taking on behalf of their clients before the end of 2016. Topics discussed include potential changes in estate taxes, the impact of potential changes in tax treatment for carried interest in private equity funds, the potential “tax traps” of coming hedge fund audit guidelines, the impact of proposed changes related to leveraged investments, and the future of grantor retained annuity trusts (GRATs).