Stormy Daniels 360x1000
Thomas Piketty3 360x1000
Ruth Bader Ginsburg 360x1000
6albion
LillianFaderman
Adam Gopnik 360x1000
2albion
199
Betty Friedan 360x1000
2lafayette
3confidencegames
1gucci
2trap
Storyparadox1
storyparadox2
3albion
Maurice B Foley 360x1000
3defense
6confidencegames
13albion
Margaret Fuller 360x1000
2defense
7confidencegames
2lookingforthegoodwar
1falsewitness
1trap
1madoff
2theleastofus
George M Cohan and Lerarned Hand 360x1000
3theleastofus
299
Anthony McCann1 360x1000
2jesusandjohnwayne
2falsewitness
James Gould Cozzens 360x1000
Spottswood William Robinson 360x1000
lifeinmiddlemarch1
Thomas Piketty1 360x1000
3paradise
Margaret Fuller4 360x1000
2paradise
11632
2transadentilist
1empireofpain
lifeinmiddlemarch2
10abion
Margaret Fuller2 360x1000
11albion
Mary Ann Evans 360x1000
Tad Friend 360x1000
Maria Popova 360x1000
George F Wil...360x1000
Richard Posner 360x1000
Office of Chief Counsel 360x1000
1albion
Anthony McCann2 360x1000
12albion
Susie King Taylor 360x1000
14albion
Margaret Fuller5 360x1000
5albion
1lauber
1lookingforthegoodwar
Susie King Taylor2 360x1000
Samuel Johnson 360x1000
Learned Hand 360x1000
9albion
Gilgamesh 360x1000
1defense
Edmund Burke 360x1000
4confidencegames
Margaret Fuller3 360x1000
7albion
Brendan Beehan 360x1000
1lafayette
2confidencegames
1theleasofus
1paradide
2gucci
1confidencegames
Lafayette and Jefferson 360x1000
1jesusandjohnwayne
399
Margaret Fuller 2 360x1000
Margaret Fuller1 360x1000
8albion'
Thomas Piketty2 360x1000
5confidencegames
AlexRosenberg
Mark V Holmes 360x1000
4albion
1transcendentalist
storyparadox3
499
Originally Published on forbes.com on November 9th, 2011

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Subsequent inquiry has made me a little more skeptical about these reports.  Here is a follow-up.
Rumours are circulating that the Super Committee may be planning to cut Gift Tax Exemptions from $5,000,000 to $1,000,000.  The really scary part of the rumors is that the change may have an effective date of November 23, 2011.  How real are the rumours ? Well consider the sources.  This is from the Florida Trusts and Estates Blog of Dean Mead
The Joint Select Committee on Deficit Reduction (the “Super Committee”), a 12 member bipartisan Congressional committee, is scheduled to announce its proposals on November 23rd for reducing the national deficit by at least $1.5 trillion over the next 10 years. The Super Committee proposals may include changes to the current estate, gift and generation-skipping transfer tax laws. Of immediate importance to you or your clients, we have heard rumors that the Super Committee may propose a reduction in the Federal gift tax exemption from the current $5 million exemption to $1 million. It is possible that the Super Committee may recommend these changes to become effective as early as November 23, 2011.
My friend Charley Egerton is a partner in Dean Mead, a major Orlando firm.  He recently completed a term as the American Bar Association’s Section of Taxation.  That is significant credibility.  I tried to reach Matthew Ahearn, the author of the post, but everybody there is in a meeting.  Here is another source for the rumour.
What to Do ?
Making a major wealth transfer gift in a time frame of not much more than a week is fraught with peril.  Select some assets.  Value them.  Contribute them to a family limited partnership.  Operate the partnership for a while.  Value the partnership interests. Make gifts of the partnership interest.  This is not going to happen in a week.  What you can do though is make a gift of cash or marketable securities to an intentionally defective grantor trust.  Then you can select assets that have better wealth transfer attributes and sell them to the trust in a more orderly manner.