There's no time like the present to give money away, particularly if you're rich.
Taxes are almost certainly going to rise next year, making the end of this year a prime opportunity for the rich to scatter some of their wealth to preserve their fortunes. And with the weak economy shrinking interest rates and investment returns, there's no point in letting wads of cash sit in the bank, as they're not collecting much interest.
Also, Uncle Sam is expected to change the lack of federal estate tax that made the heirs of George Steinbrenner even richer. By next year, the estate tax may very well spring back to its previous 55 percent rate.
"This is a golden era for shifting estates and giving assets away," said Bill Fleming, a financial planner for PricewaterhouseCoopers tells Reuters. "If you have an estate plan, keep going: Uncle Sam soon will be back in your pocket."
So, rich people, spread the wealth around!
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