Rumors have been around for a number of years about new regulations being promulgated by Treasury regarding discounts for transfers between family members. I just saw a blog post summarizing the discussion at the ABA’s most recent RPTE section meeting. You can find it here.
Of course, we’ve been hearing this now for quite some time, so who knows if it will happen soon. However, based on this posting, you might want to consider expediting any gift tax transfers that you and your clients were considering. We are available to discuss this at your convenience.