The old adage “nothing is certain but death and taxes” is very true. Since income taxes occur on an annual basis we think about them frequently. Our own death, however, we seldom think about or plan for. That’s a problem.
Admittedly, it’s fairly difficult to plan for death and taxes at your passing. However, if I could delay only one of them, it would be death.
Anyone who has stuck by their family during the passing of a loved one knows just how powerful the ensuing emotional (and financial) tsunami can be. There are many decisions that must be made during a time of grief. This fact of life was recently addressed in a Forbes article titled “Are You Ready For Both Death And Taxes?”
Death taxes aside, death itself presents choices that must be made. You, and you alone, are in the best position to make proper estate plans to preserve and protect your assets and your family at your passing.
The original article presents a good, better, and best approach. However, what is the best approach? In the end, you know your assets and loved ones better than anyone else.
Doesn’t it make sense for you to make proper plans now, rather than later?
For more information on estate planning and elder law issues, please visit my website and sign up for my free monthly e-newsletter.
Also take a look at my informative (and brief) estate planning video
Reference: Forbes (August 21, 2012) “Are You Ready For Both Death And Taxes?”