No One is Falling Off the Fiscal Cliff: How The American Taxpayer Relief Act of 2012 May Effect You

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There are still a number of spending issues to be ironed out between Congress and President Obama. In particular, they will be working to extend the debt ceiling so government can pay its bills on time and keep our standing in the world community intact. They are also looking for ways to cut spending in a fiscally, as well as socially responsible way. Much of the “fiscal cliff” panic created in part by certain lawmakers and in part by an over-zealous media was not necessary before and is certainly not necessary now. If you are in touch with your tax planning professional on a regular basis and keep your estate plan updated every three-five years, you should have no need to worry.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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