Are Wills an essential service?
When facing the unknown we crave order and clarity. An updated will provides both.
Get the Will Done!
Years ago I worked at a charitable foundation of a large cancer hospital. One day I was visited by an older patient who wanted to donate shares owned by his late wife. He was her executor and sole beneficiary, and two years after her death he had not initiated the administration of her estate. Clearly overwhelmed, he believed a gift would help simplify his life and generate some tax savings. In addition, he wanted to leave the residue of his estate to the foundation.
Start at the End
Estate planning is a process that should “start at the end”. Who are the beneficiaries? What do they get, and when? All too often, however, we start in the middle. The focus is on the mechanics of making the transfer: probate fees, taxes, structures.