In December, many estate planners helped clients to capture the $5.12 million exemption from the federal gift, estate and generation-skipping transfer taxes, before it was potentially reduced to $1 million on January 1. On January 2, they learned that the exemption had in fact been raised to $5.25 million. However, the planners don't expect that the clients who took action in December will have donor's remorse.
April Fool's Day in January for Estate Planners
New Jersey Law Journal
February 21, 2013
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