Westchester's Wealthy Seek Crystal Ball for Uncertain Future of Federal Estate Tax

With four months left until the $5.1 million federal estate-tax exemption expires, lawyers who specialize in this area are fielding phone calls regularly from wealthy clients who are unsure how to deal with the uncertainty of what 2013 will bring.

As a percentage of all Americans, few people have to worry about exceeding the $5 million federal exemption, but, “If it goes back to $1 million it affects a lot of people nobody would call extremely wealthy,” said David Sloan, co-chair of the Private Wealth Services Practice.

READ: Westchester's Wealthy Seek Crystal Ball for Uncertain Future of Federal Estate Tax