Tax Reform increased the estate and gift tax exemption for individuals to $5.6 million (up from $5.49 million). So a married couple can shelter $11.2 million between them. This means 99% of my clients need not focus on death taxes and so can focus on their true desires, like their families. How can you help your family with sensitive estate planning?

First, consider what estate planning documents you already have. If you have no will or trust you can probably save thousands of dollars just by executing a will. You may save tens of thousands of dollars with a revocable living trust so that is generally what I recommend. In less than a week I can prepare an RLT that is customized for your family. To get started, check out my Estate Planning Organizer.

Not convinced? Do you want to know why a majority of estate planning professionals recommend revocable living trusts? Why I wrote RLT’s for my own father and mother even though my father was a Probate Court Judge at one time? Read on.

Maybe you have a will or  trust. If it is more than a couple of years old you need to have it reviewed and I will review it for nothing. If your documents were drafted to avoid taxes by an excellent estate planning lawyer a few years ago, get it reviewed. The vast majority of older trusts and wills are obsolete and will complicate your family’s lives and cost unnecessary money. If you want to relieve your family of a lot of cost and aggravation, you need to replace older documents with something simpler. You will enjoy getting professional advice that focuses on your true family goals.

About Wis Laughlin

I help clients with tax preparation and IRS representation, estate planning, and complex contracts, including LLC's. As a former IRS tax attorney in their National Office. picked Wis in 2017 and several prior years as one of the Top Tax and Estate Lawyers in Tennessee. I am your advocate, not your accountant. I don't tell you what you can't do. I show you how to do it.
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