The good news is that those pesky political commercials are behind us now. However, the focus has now been redirected to the "fiscal cliff". Buried in there is a discussion on what to do with the federal estate tax. If no action is taken, the federal exemption limit will fall to $1 million in 2013. And it will resurrect the Wisconsin estate tax. So, while we may want to look away from the ways of Washington, D.C., I cannot.
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I will be following the discussion (is that a generous choice of words) and wait, listen, and read. What oh what will happen? Time will tell, and sadly I think Congress and President will simply "kick the ball". Meaning they'll come up with a short-term fix, good for a year or two. Which means long-term planning is not really an option for folks flirting with the $1 million level.
Enjoy your weekend everyone, and I'll be back Monday with more on illness, death and taxes for the middle class.