For high-net-worth clients, there are less than four months left to avoid the effects of potentially severe tax changes. Many advisors have undoubtedly been beseeching wealthy clients to take advantage of existing gift, estate and generation-skipping tax exemptions of $5.12 million and other wealth-transfer planning opportunities while they can. The zero hour is assumed to be Dec. 31, but could potentially be sooner if President Obama is reelected and pushes legislation through the lame duck session of Congress.
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