Must Act Now!”
Now Moment Has Arrived.”
infomercial pitchmen? Nope. Wealth planners breathlessly warning prospective
clients that they have only until Dec. 31 to seize a “historic” opportunity to
transfer millions to kids and grandkids, tax free.
While most political
prognosticators are struggling to predict the outcome of the elections in
November, you need to be thinking (and planning) for January, 2013.
The estate laws of 2012 are
generous and ripe for implementation. However, what will take effect on January
1, 2013 is anybody’s guess. One thing is clear: anything can happen in a
divided and contentious lame-duck Congress.
There’s simply nothing worse for
wealth transfer planning than an unforeseeable future, but that’s exactly what
The auspices of 2012 and the
unknowns of 2013 have been featured once more in Forbes. In a recent article titled “Should You Give Your Wealth To Your
Grandkids Before December 31?,” this quandary is explored.
Unfortunately, the question
posed in the title of the article is not given easy answers. In the end, the how, when,
whom and even how much issues must be addressed on a case by case basis. You know
your own needs and assets.
Fortunately, Meier Law Firm
can help you make navigate these issues.
As it stands, everyone has
something to gain by acting on current law, whether by gift or by trust. But
your options may become extremely limited once the ball drops in Times Square.
(August 2, 2012) “Should You Give Your Wealth To Your
Grandkids Before December 31?”