As a result of the tax law that was passed at the very beginning of 2013, we now have more certainty in the federal taxation of estates and gifts than we have had for many years. Certainty of tax results is a good thing, because it permits planning with more assurance of the consequences of gifts and bequests; and that should persuade business owners to start or restart programs of transferring business interests. For now, we still have the ability to discount the value of closely held business interests, which makes it easier to give away those interests more quickly and tax-efficiently. There are always rumbles about changing the tax law to eliminate valuation discounts, and there might be substantial tax reform this year (although any change of that kind is hard to predict in our current political milieu). Business owners would be well-advised to continue or make plans for business succession now, while we have the upside of higher exemptions for gift and estate taxes without the downside of limiting the ability to make discounted gifts.