DeAngelis Legal updated the core estate planning documents for four different families. From simple wills to complex trusts, regardless of the plan, it should be reviewed at least every five years. Recent estate tax law changes reduced the need for complex asset allocation provisions and shifted the emphasis to preserving income tax benefits. These subtle changes can substantially increase the amount payable to beneficiaries. If the estate plan is well thought out, reviewed regularly and kept current, the administration and transfer of assets at death is smooth and almost mechanical in its implementation. When done incorrectly, it is emotional, time consuming and adversarial. Families are torn apart and relationships are lost forever. Kudos to these families for taking the time to update their estate planning documents.
