Coming tax changes may spur early gifting, business transfers.

The article reports that the pending drop in the lifetime estate/gift tax exemption to 1.1 million U.S. dollars from 5.12 million U.S. dollars effective January 1, 2012 is hastening the completion of multimillion-dollar gifts and spurred some small-business owners to reallocate portions of family-owned businesses to the next generation. According to the author, gifts in 2012 over the individual exemption of 5.12 million U.S. dollars are taxed at a top rate of 35 percent.