Tax planning is never easy. Death and Taxes are always certain, we just never know when they will come. According to this Forbes blog post by Hani Sarji, the President’s budget would like to scale back the current $5 million estate tax exemption and maximum 35% rate to $3.5 million exemption and 45% rate as of January 1, 2013. The “sleepers” in this proposal include limiting the duration of the GST tax exemption (the exemption that allows families to protect assets from future transfer taxes) and modify rules on commonly used valuation discounts. All the more reason to seriously consider advanced estate planning techniques to transfer wealth before the end of 2012 while you can.