Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Sunday, October 13, 2013

It's Estate Planning Week

CalenderIt's Estate Planning Week across the nation. President of the Estate Planning Council of Birmingham, Gerard Kassouf, explained, "Estate planning is important to every person. Proper planning includes determining how assets will be distributed, and how debt will be paid. Other decisions such as the naming of a guardian and conservator for minor children, or providing for elderly parents, are part of the estate planning process. Furthermore, if substantial net worth is involved, then the planning necessarily must deal with the federal estate tax and the federal and state income tax laws. New tax laws provide another reason to review documents in place or to have documents prepared if none exist."

If you have not updated your will in the last two years then it is time to get with your advisor and update it. A few things you should consider are new laws on estate taxes, beneficiary designation forms, Power of Attorney agreements, and trust creation. 

See Stewart Welch Tax Law Changes Drive Need To Review Estate Planning, AL.Com, Oct. 10, 2013.

Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2013/10/its-estate-planning-week.html

Estate Planning - Generally, New Legislation, Wills | Permalink

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