With the gift tax exemptions set to expire at the end of the year Richard Behrendt, Bairds director of estate planning, is warning some clients not to overreact.
As part of the tax cuts scheduled to end at the end of the year under the fiscal cliff, the gift tax exemption of up to $5,120,000 could drop to $1,000,000 in 2013, and many wealthy clients are looking to take advantage of that closing window of opportunity. But making a large gift now may not be for everyone, he cautions.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access