It may not seem like it, but Now is the Time to Plan
Difficult topics when planning for your estate is a recent article on the Chicago Tribune's website that discusses the advantages of wealth transfer planning during down market and low interest rate environments such as the one we are experiencing now. Add to this the uncertainty of future laws regarding estate, income and capital gains taxes, and the logical conclusion is that it is a good time for individuals worth a couple of million dollars or more to put wealth transfer plans into place. After all, if the law does not change soon, we will be facing a $1 million estate tax exemption in just over two years (2011).
Even folks of more modest means should not delay putting estate plans in place to protect their family and their assets. Proper planning can protect inherited assets from creditors, bankruptcy, and other financial trouble that are more likely to occur in these difficult times.
