Forging past the fiscal cliff

by Ted beringer

Those of you who work closely with us know that in 2012 we had our eye focused closely on the potential "fiscal cliff" the country faced at the end of last year. We were nudging clients to take advantage of specific conditions that made 2012 an excellent time to transfer wealth because we didn't know what the fate of these favorable conditions would be.

Many of the favorable terms for wealth transfer were given a longer, or indefinite, lifespan in the recently passed legislation, which is excellent news for people who were not focused on wealth transfer in 2012. Many excellent opportunities continue to be available to them.

For those of us at the Beringer Group, after a quick sigh of relief, we not only wish to keep clients focused on some of the excellent opportunities for wealth transfer that are available, but also direct their focus towards exit strategies.

This is a great time to be focused on monetizing companies as well as to be focused on some of the internal and external transition strategies that are available to family businesses.

We attribute the great success of our clients in part to their ability to adeptly navigate bumps in the road, but even more so to their ability to have mapped out the road in the first place. Keep your eye on the prize. The discipline and foresight to devise long term strategies to help you achieve your dreams may be your most valuable asset.

We wish you the best in 2013 and hope this newsletter helps you continue on a path of great success.