Estate planning is the preparing of legal documents to carry out your testamentary intent. Estate planning does not just take into account the high net worth individual who is primarily concerned about estate taxes, but rather planning for everyone’s testamentary intent. Testamentary intent is what you want to happen when you die. Notwithstanding, the general definition estate planning can include sophisticated gifting options to reduce one’s taxable estate and avoid or diminish federal and state estate taxes.
In addition to my day job and running a few websites, I also own and run a small legal practice where 99% of my matters have to do with estate planning and administration. Every client is a referral which inherently builds a nice network of traceable people I have helped discover and implement their testamentary intent. I was sitting with one of these referrals the other day when she asked me a pretty direct question regarding my thoughts on using Do It Yourself Will Preparation Services. I was taken back by the question as we had already been sitting for the better [...]