Wealth Transfer Opportunities May Be Closing

Time is of the essence. Significant wealth planning opportunities are set to expire at the end of 2012. It is critical for wealthy families that have taken a wait and see approach to the future of gift and estate taxes to formulate a plan now. Developing and implementing well thought out and properly structured wealth planning strategies takes months, not weeks. Waiting to formulate a plan until after the November elections with the hope of additional clarity on future tax rules, and then attempting to formulate and implement a plan in the last few weeks of 2012, in line with others taking a wait and see approach, is unwise.