The New Year Should Include An Estate Planning Resolution. Why?
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This brief article will examine why 2010 estate planning resolutions and will updates are more important than ever, and how to make sure that this is one resolution you’ll actually keep.
First, the many laws related to estate planning and estate and inheritance taxes change regularly. For example, Medicaid – nursing home laws, estate and gift tax rules, and power of attorney laws have all changed recently for Pennsylvania residents.
However, this year there was also a major change, when Congress allowed, at the last minute, for the federal estate tax law to lapse. But, don’t take that too happily because it comes roaring back in just 12 months and that version may be worse than ever. And, to make matters worse, if your assets (including life insurance) exceed 1 million dollars, your estate planning documents might not even work properly.
So for the full story on who should revise their estate plan and why, as well as notes on how to keep this resolution, click here.
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Written by: David M. Frees III
Chairman: Trust, Estates, and Wealth Preservation
E-mail: dfrees@utbf.com
Phone: 610-933-8069
AVVO Rating: 10.0
Tags: etstae attorney, federal estate tax laws, new year resolution, Pennsylvania will lawyer, probate attorney, reasons for will update, updating wills, will changes, will revisions, will updates
December 27th, 2009 at 9:35 pm
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January 22nd, 2010 at 11:43 pm
The blog was absolutely fantastic! Lots of great information and inspiration, both of which we all need!