Rumors of the Early Demise of the Current Gift Tax Exemption Are Likely Exaggerated

9 November 2011
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Key takeaways:

  • The window for tax-free multi-million dollar estate planning gifts could be closed by the Congressional Super Committee as early as November 23, 2011, instead of December 31, 2012 as now scheduled.
  • While this change is not very likely, clients may want to accelerate gifts to avoid the possibility of a premature change in the law.