In their first Presidential debate, Mitt Romney and President Obama spent a lot of time talking about taxes. However, neither one of them mentioned anything about the estate tax and the looming problem with the exemption limit. That was disappointing as it is a big, hidden issue for a lot of middle class families.
Moderate senators, John McCain and Ben Nelson have both stated that they do not expect any fix to the estate tax issue this year because the political parties are simply too far apart to compromise and neither side has a large enough of a majority in Congress to act on its own.
In light of the foregoing, we believe that you absolutely cannot wait. Talk to an estate planning attorney today about how to protect your family from the estate tax and the problems it will cause beginning next year.