Estate Planning in an Uncertain Time

Estate Planning in an Uncertain Time

In the past weeks, the Dow plummeted from 11,000 to below 8,000, and it now hovers just above 8,500.  Banks are closing around the globe, companies big and small are laying off employees, and real estate values are declining. 
 
What obstacles and opportunities will tomorrow bring?  Are you prepared?
 
With the current economic uncertainty, it is more important than ever to make sure that you and your family have put your affairs in order, and that any amendments you are thinking about are made and signed.  For example:

• Are your documents updated to take advantage of the current tax law and the impending rise in the federal estate (not gift) tax exemption?  Effective January 1, 2009, the tax exemption will rise to $3,500,000 per person.  
• Are your assets properly titled?  
• Are your trusts are properly funded?  
• Where are your liquid assets housed?  Are they secure and easily accessible?  
• What is the health of your financial institution(s)?  Your investments?  Your retirement?     

 Now is the time to review your estate plan to ensure its stability, and position your assets to benefit from current and forthcoming swings in the market and tax codes.
 
If you wish to have your estate plan reviewed, please contact Patricia M. Annino at pannino@PrinceLobel.com or 617 456 8000.  We will send you a questionnaire to begin the update process.