10 Estate Planning Questions to Ask Before Year-End
If you have not revisited your estate plan this year following the changes to the estate and gift tax laws in early January, ask yourself these 10 questions then schedule a meeting with an estate planning attorney:
1. Should your estate plan be changed to reflect the new laws?
2. If you have a family LLC or limited partnership, has it been properly maintained to comply with tax laws?
3. If you have made gifts to family or friends, have you exceeded your exemption limit for the year?
4. Does your plan employ the latest estate planning strategies?
5. Are you maximizing opportunities for tax deductions in 2013?
6. Are the people you have designated as executor, trustee or beneficiaries still the right ones?
7. Are you employing the best strategies for year-end charitable gifting?
8. If you donate cash to a charity from an IRA, are those being made properly?
9. Is there an opportunity to use a trust to protect assets?
10. What considerations should you be giving to managing capital gains and timing long-term losses?
The Flanigan Law Group provides Southern California residents with personal attention for estate planning, administration and litigation legal services. When disputes between families, arise, they are very successful in resolving legal estate issues quickly and efficiently while preserving financial and emotional resources. Contact the Flanigan Law Group at 949-450-0041.