Webinar: Estate Planning in 2020 - What You Need To Know About Estate Planning Now

On May 6, Kay Brooks presented What You Need to Know About Estate Planning Now, hosted by the Capital Region Family Business Center.  This webinar covered important aspects of estate planning in 2020, including considerations highlighted by the current pandemic.

The presentation addressed:

  • Immediate steps you can take to benefit your family and enhance your estate plan
  • The key documents you want to have in place to protect yourself and your loved ones
  • New features that could improve your revocable living trust agreement
  • How to coordinate your estate plan with your business succession plan
  • Specific logistical challenges occurring now and how to address them

A recording of the webinar can be viewed on the Capital Region Family Business Center website.

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Dead Men Tell No Tales and Other Issues with Contracts to Make a Will

by Danielle F. Diebert
The Trusts & Estates Law Blog

First, what is a contract to make a will?

A contract to make a will is exactly as it sounds.  It is an agreement to provide for a person as part of a decedent’s will.  The terms of the agreement could be as simple as a promise to provide services in exchange for a specific cash gift as part of a decedent’s will.  For example, Elizabeth may promise to provide caregiving and household services to William in exchange for William’s promise to provide her with $250,000 upon his death. 

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Important Tax and Estate Planning Update

The Trusts & Estates Law Blog

You may have heard by now that the Gift and Estate Tax exemption amount was increased by the Tax Cuts and Jobs Act of 2017, which became effective on January 1, 2018. This article is to highlight some of the key estate planning issues under the new tax law.

In 2019, the Gift and Estate Tax exemption as adjusted for inflation is $11.4 million, and in 2020, the exemption amount will be increased to $11,580,000.

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