Obama Wins! Now What?

Dear Clients, Colleagues, and Friends, The Obama victory and a democrat controlled Senate will translate into higher gift and estate taxes when the law sunsets at the end of 2012 and no prospect for an estate tax repeal, at least for the next 4 years. Now that the election is over, we expect a rush by those who were expecting a President Romney and with him, an extension of the Bush tax cuts and a repeal of the estate tax […]

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It’s Not Over Til It’s Over – How to Capture the Expiring $5.12M Gift Tax Exclusion Even if You’ve Waited Until the 11th Hour (or Month)

Dear Clients, Colleagues, and Friends, There are only two months remaining before the $5.12M gift tax exclusion law will sunset taking us back to the pre-2011 $1M gift tax exclusion. For those taxpayers who haven’t yet jumped on the bandwagon (to take advantage of what is arguably the “greatest tax benefit” in the history of our Union) time is running short–not because the appropriate trust can’t be timely formed, but because of the extraordinary length of time it is taking […]

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