"Last Chance" Estate Planning May End Soon - Tax - United States

"Last Chance" Estate Planning May End Soon - Tax - United States| Mondaq ("Much has been written about the perfect storm of estate planning: the coincidence of low values, low interest rates, valuation discounts and the $5 million ($10 million for a married couple) gift and estate tax exemption. Unfortunately, the $5 million gift and estate tax exemption ends (reverting to $1 million) after December 31, 2012. Values of certain assets are increasing. However, most importantly, valuation discounts may be severely restricted at any time by IRS regulations. Thus, the best opportunities may close well before December 31, 2012. Don't wait for this 'last chance' at once-in-a-generation estate planning.")