losing discounts re FLPs and FLLCs

I'm curious as to what others are doing about the prospect of losing valuation discounts for FLPs and FLLCs. So many are out there with the expectation that the discounts will be available... Any thoughts?

Gift now while the concept still exists and will stick.

Other than that, we wait for the prohibition to be lifted, if it is indeed created.

What do you mean by prohibition?

I don't see a threat to shifting appreciation via gifts. It's how you leverage it that matters. Valuation is a very interesting concept...

I'm aggressive. To me it's a voluntary tax (i.e., a tax on not planning.)

I mean, if they prohibit discounts in the near term, there will probably be a future time when they are allowed again. Political winds shift policy.

I agree the estate tax is almost always 100% avoidable with enough time to plan. Sometimes paying estate tax isn't such a bad thing, though.

I expect there will be a big push for planners to do major things in this arena before January. Clients won't be happy when they realize what their exposure has become. Like you said, I suspect there will be a lot of gifting.

I'm already seeing a lot of movement in this area.
I expect the pace to pick up once we're through 10/15 and start reaching out to clients.

How do you think you will handle it?