If you haven’t changed your approach to estate planning recently, you should.
“The status quo is stupid,” said John Scroggin of Scroggin & Co. at the recent FPA Retreat here. “Estate planning is a constantly changing environment.”
Under the American Taxpayer Relief Act of 2012—enacted in January of 2013—the government permanently reduced the number of U.S. residents that will be subjected to a federal transfer tax. It is expected, according to Scroggin, that in 2013 roughly 3,000 estates will be subjected to a federal estate tax out of the roughly 2.5 million residents expected to die.
He explained that because of the implementation of the American Taxpayer act, planners must change their techniques and strategies when it comes to estate planning.
Scroggin outlined five elements of estate planning that are becoming so significant that planners cannot overlook them.
Estate Planning: John Scroggin s 5 Tips to Stay Ahead | Financial Planning