The Tax Cuts and Jobs Act (TCJA) created a new program to encourage investment in economically distressed areas through generous tax incentives. The Qualified Opportunity Zone (QOZ) program relies on investments in Qualified Opportunity Funds (QOFs) — funds that can provide wealthy taxpayers with some new avenues for estate planning. 3 big tax benefits Investors in QOFs stand to reap three significant tax breaks: They can defer capital gains on the disposition of appreciated property by reinvesting the gains in a QOF within 180 days of disposition. The tax is deferred until the QOF investment is sold or Dec. 31, 2026, whichever is earlier. Depending on how long they hold their QOF investment, they can eliminate 10% to 15% of the tax. After 10 years, post-acquisition appreciation...