Execute and shelve is not an effective approach to estate planning. McManus & Associates, a top-rated estate planning law firm celebrating 25 years of success, today revealed the “Top 10 Ways to Solidify an Estate Plan Post-Execution,” a recent installment in its Educational Focus Series. During a conference call with clients, the firm’s Founding Principal and AV-rated Attorney John O. McManus shared tips on how to build a solid and complete Estate Plan to protect and nurture your family today and for generations to come.
“To make your estate plan solid, there are numerous issues to consider and actions to be taken that extend far beyond drafting documents,” commented McManus. “Building a foundation through strategic planning and establishing the framework for one’s legacy are important steps, but until all the core elements of the structure are in place, there’s more work to do.
“Today, in the Trump Era, with all the uncertainty about where the estate tax and income tax regimes converge and diverge, it is critical to ensure that core protection work is completed as we batten down the hatches, protecting for the storm of changes most certainly on the horizon. To ignore fully completing this core work as we await changes to more complex tax issues is not the most conservative approach. In fact, some have said that to neglect core planning is tantamount to being reckless with one’s loved ones.
McManus added, “As family dynamics and the legal environment evolve, it’s particularly important after the core work is completed to revisit and revise that portion of one’s estate plan, as needed.”