Many clients won't move forward on tax and estate planning now because of the tremendous uncertainty in Washington over tax laws. True, it could be a while before there's any clarity regarding the host of new legislative proposals, and clients might be surprised by changes effective in November even if Congress' Joint Select Committee on Deficit Reduction acts later.
The range of possible changes to the estate tax, for instance, is wide. At one end of the spectrum is a repeal. At the other, a $1 million exemption and a 55% rate, accompanied by restriction or repeal of many favored planning techniques.
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