As 2012 comes to a close, the number of people making transfers of wealth has reached record setting numbers, according to some financial professionals. According to the Memphis Business Journal, “A New York wealth planning principal told CNN Money he expected the volume of money gifted in 2012 will be three to four times more than has ever been given away in any other year; another estate planning professional estimated the volume would exceed the combined amounts given away in the previous 10 years.”
See Tax Changes Spur Record Transfers of Wealth, Memphis Business Journal, Dec. 17, 2012.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
