It’s been estimated that 70% of Americans do not have a proper estate plan. Many people believe that estate planning is only for the wealthy. It is not. Estate planning includes creating Wills, Trusts, Powers of Attorney and Medical Directives that safeguard you and your family in case of sickness, accidents, or untimely death. These documents let you choose beneficiaries for your assets, mitigate inheritance taxes and designate people to make financial and medical decisions for you if you cannot.
Just as a tailor knows that fit, fabric and style are crucial to a great wardrobe, at DBWLE, our attorneys know that the tailoring of estate planning is even more important. A one-size-fits-all approach to estate planning neglects the unique circumstances in the lives of clients and doesn't provide the best solutions. That's why estate planning attorney, Stephen P. Will, Esq., recently attended the 23rd Annual Estate and Charitable Gift Planning Institute's seminar on "Tailoring the Estate Planning Wardrobe — Adapting Traditional Techniques for a Better Fit." Topics included common blind spots, federal tax developments, and integrated and actively-managed estate planning strategies.
National Estate Planning Awareness Week is a good time to take a good look at your affairs to make sure your estate is in order and a good fit for you and your loved ones..