Beyond (the Fiscal Cliff) and Back in 2013

The second half of 2012 and the first couple of days in 2013 were interesting, to say the least, for the general public and particularly so for the estate-planning community. Quality of life for estate planners in the last quarter of 2012 was essentially non-existent, with the year-end estate-planning crunch arising from the Dec. 31 gift planning deadline prompted by the threat that the gift tax exemption would return to $1 million, coupled with a 55 percent rate. Congress put those fears ...