Friday, February 11, 2011 Press Coverage of Estate Planning this Week (February 11, 2011)
David Cay Johnston of the New York Times writes that estate plans need to build in flexibility because the estate tax laws are constantly changing. For instance, many estate planning attorneys don’t think the current $5 million exemption level will be reduced, but they nonetheless suggested it would be imprudent to draft a plan that did not take the possibility of a reduced exemption level into account. See Certainty on Tax, But Just For Two Years (Feb. 9, 2011).
Andrew and Danielle Mayoras write in Forbes about what happened to some celebrities who died in 2010 without proper estate planning in place. Stories include what to avoid, such as not updating your estate plan after a significant life event such as divorce. See Estate Tax Lessons From George Steinbrenner, Gary Coleman and More (Feb. 4, 2011).
René A. Guzman of Hearst Newspapers suggests adult children should have a conversation with their parents about estate planning. One way to bring up the topic is to suggest that the conversation is about avoiding unnecessary burdens on their loved ones, including their spouse. See Preparing Parents for the Inevitable (Feb. 8, 2011). |