Who Needs an Estate Plan?

Will and estate planning - The Law Office of David B. FerrellWho needs an estate plan?

This answer is simple. Everyone needs an estate plan! If you have money, possessions, or family, you need an estate plan. The older we get, the more we tend to think about the future—and rightly so! You might start to think about estate planning later in life because you think, “time is running out.” By the time you reach middle age or the golden years, you must have an estate plan. [Read more…]

The New Era of Estate Planning

Canton Estate PlanningThe fiscal cliff deal of the new year has brought some changes to the estate planning process. There was a whole section in the act dedicated to estate and gift taxes, which could mean changes for your estate plan.

Forbes detailed the new codes and what they mean for the future of your estate plan. The American Taxpayer Relief Tax Act of 2012, commonly referred to as the fiscal cliff deal, increased the amount you are allowed to gift or pass through your estate plan before taxes. The exemption from 2012 will be permanent, though it will be adjusted for inflation each year. [Read more…]