Can Tax Legislation Impact My Estate Plan?

When you think about estate planning, you may put it on the back burner, thinking that you will have time put a plan in place at a future date. Many people adopt this perspective, and as a result, most Americans are not properly prepared. Because of this tendency toward foot dragging, once you put your initial plan in place, you may feel as though the job is done. You have finally taken action, and you no longer have to feel this nagging sense of unpreparedness. It s great to put a plan in place, but you have to understand the fact that estate planning is an ongoing process. Circumstances will invariably necessitate estate plan updates. There could be changes in your own life, and there can be changes to relevant laws. Let s look at a potential scenario. Taxes and Your Estate Plan The federal estate tax can enter the picture if you have been particularly successful from a financial standpoint. Over the years, the estate tax parameters have been in flux, and these fluctuations have bee
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