There have been recent changes in the estate tax laws that may affect your current estate plan. I share those details in the post that follows and also provide you with some recommendations to bring your estate plan up to date.
Talking to loved ones about estate planning is a difficult conversation because people do not like to talk about death.
But the truth is that none of us will make it out of this life alive, so estate planning is an important topic to discuss with the people you care about most.
The Tax Cuts and Jobs Act of 2017 ("Act"), effective as of January 1, 2018, includes significant changes that affect estate planning.
Choosing either a will or a revocable trust as the foundation of your estate plan is often the first step in the estate planning process.
Both documents allow you to create a plan for the distribution of assets upon death, as well as name a person (or persons) who will be responsible for administering your estate and distributing your assets.