It’s an exciting time to return to the trenches with my clients and trusted advisors. Planning for the potential upheaval of estate and gift taxes next year forces us to be very sensitive to our client’s priorities. Over the years, I have learned that taxes are often not the highest priority for them. They worry about divorce, and making sure the wealth stays with the intended heirs for as long as possible-keeping taxes in mind, of course.
The result is a bevy of creative solutions to meet the objectives of the clients, and not the attorney and advisor. Some of these allow the client or their spouse to maintain control over, and access to their wealth, while taking advantage of what may be a once in a lifetime opportunity to save estate and gift taxes.
The primary maxim is: do no harm (this is the Will Doctor!). The expectation with many of our new planning options is that they are likely to save significant taxes, but if they don’t, the client is no worse off than having done nothing. This gives my clients a real alternative to doing nothing, since the savings can be millions of dollars.
More on these coming up! Must round up my patients/clients and get this practice ship shape quickly. New offices in Mineola are being completed and will be ready, we hope, in early September. Meantime, please call at (516) 458-8890, email at firstname.lastname@example.org. My old address email@example.com will be up and running in a few days.