January 2nd, 2013

#empoweredwealth  comment on the Fiscal Cliff

By Ron Nakamoto

#empoweredwealth  comment on the Fiscal Cliff

Reshared post from +Lee Brower

The Fiscal Cliff Is Over…Now What?

Many wealthy families transferred millions of dollars to their heirs before December 31, 2012, fearing that the $5.12 million estate and gift tax exclusion amount would be reduced and that rates would go up.  What happened?  The Fiscal Cliff deal passed by Congress yesterday surprisingly made the $5.12 million / per person exclusion amount temporarily permanent (only congress can fully embrace this oxymoron) while raising the highest estate tax rate by 5% – far less than expected.  Families of wealth have a legitimate complaint about how Congress and the political system made it impossible to do reasonable tax planning.  Yet, sustainable prosperity is not just about tax avoidance; it’s more about building the mindsets and family culture that will give family members the greatest opportunity to contribute and thrive in the future.  And that has very little to do with any fiscal cliffs.

Happy New Year from #empoweredwealth .

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One Response to “#empoweredwealth  comment on the Fiscal Cliff”

  1. Jay Paterson

    Many wealthy US Resident families acted in the fashion that Lee writes about, that is true. Unfortunately, on a global perspective, extremely few families, wealthy or otherwise, actually build a system that allows them to enjoy the present, and Leverage their Skills, Wisdom and Experience for the benefit of their future families and community.
    That is far more problematic than the US perception of a “fiscal cliff”.
    Thankfully, and I mean this sincerely, The Empowered Wealth Quadrant Living Experience, can help all families, anywhere, regardless of ‘state of financial wealth’, create simple systems that deliver repeatable, dynamic, durable, success for themselves, their families, their businesses and their communities.
    The key…., take action.
    Because WE are responsible for our own success, We have to LEAD!

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