For many people the topic of estate planning is very low on the list of priorities. This is understandable. Estate planning is, by analogy, like flossing. We hear the admonitions to floss (or to get our estate planning in order), but who really buys into these pleas?
I also find surprising the number of families who end up later with no choice but to pay large legal (and litigation) fees to deal with an abundance of problems. Problems — both tax and non-tax — arising from aging, incapacity, and death. Problems in many cases avoidable.
Lawyers reap the financial benefit of this family expense. Virtually a captive market. The hourly fee clock ticks on, almost perpetually.
So, in line with my persistent efforts to highlight the need for estate planning (and asset protection planning), primarily for preventive purposes, here is a memo that might help you, your friends, and clients get moving on this task. Click here for my memo.