Estate plans are both relevant and necessary if any of the following apply to you:
If it matters to you who inherits your assets
The future of your health care should you fall ill or otherwise incapacitated
Desire to avoid the inconveniences and hassles of probate court
The use of an estate plan is no longer associated for the [...]
Social Security seems to be moving toward its day of reckoning. According to a recent article by Philip Moeller, efforts to put Social Security on a sound long-term footing included higher tax rates for payments into the system, raising retirement ages, and treating some Social Security payments as taxable income.
How to avoid inheritance tax on property with the new estate tax laws taking effect.
Currently, the estate tax in the U.S. is in a unique position. The code was written so that every year until 2009 the tax would lessen, until 2010, where it would disappear completely. However, next year, 2011, the estate tax will come back with a vengeance to a much higher level.
