Most people don’t know that there is such a thing, but the National Association of Estate Planners & Councils is getting the word out this year that next week is the National Estate Planning Awareness Week. A resolution was passed in 2008 creating the proclamation to bring attention to the estimated 120,000,000 Americans that do not have up-to-date estate plans.
With so much uncertainty in the transfer tax code, income tax code, economy and political environment estate planning has never been more important. For those with balance sheets above $5 million and complex assets like closely held businesses and real estate, planning is particularly important. Even if you do not fit this category, there are many non-tax reasons to be thoughtful about estate planning. If you have questions or concerns, our team of professionals is always available.