ESTATE PLANNING
Everyone should, at a minimum,
have a will and health care advanced directives. Some people also might find it to their advantage to have an
inter vivos (living) trust.
The Bush estate tax changes are due to expire at the end of 2010, and,
as yet, we have no indication of what will happen in the Obama administration.
It is important for people
with assets to protect consult an experienced estate planner. This attorney will be able to suggest
ways to arrange your affairs to minimize potential federal estate taxes and
ensure as much money as possible is available for your spouse and children.
Estate planning is also
necessary for “blended” families.
Many people are married to others who had children with their first
spouse, and it is important to plans your affairs to ensure that the treatment
of your children and your new spouse’s children match your respective
intentions.
No one plans to die, but all
too many people die unexpectedly from accidents, heart attacks, and other
occurrences that come on suddenly.
Don’t be caught without a properly prepared estate plan. This leaves the decision-making about
how your assets are distributed to the State.
