Estate Planning and the Fiscal Cliff
Congress rang in the New Year by enacting legislation to save us all from the “fiscal cliff” the country was precariously dangling from – the “American Taxpayer Relief Act of 2012”. The most important impact the legislation has on estate and gift taxes is that it makes the system that was in place over the past couple of years permanent. As far as estate and gift tax changes go, there weren’t many made in the new legislation.