Required

Stay Flexible

Whenever the government starts talking about making major changes to tax laws, many people decide to take a wait and see approach to estate planning.

It makes some sense.

Why get an estate plan, when the law might change soon and make the plans less than ideal.

It might be better to wait and see what happens and then make estate plans for the new law. However, there are problems with that line of thinking.

It could take a long time for tax reform to pass, if it does at all.

The current laws are still in effect.  Therefore, if something happens to you now, it would be better to have a plan than to not have a plan at all.

Instead of putting off estate planning, you just need to plan for uncertainty, as Financial Advisor discusses in “What Your Estate Planning Clients Should Do In Response to Trump’s Tax Plan.”

Estate planning for “uncertainty”, means you need to create plans that are flexible. There need to be mechanisms in place to change those plans, if the law changes.

For example, trusts need to have the ability to be reformed, if it is advantageous to do so because of changes in tax laws.

Do not let tax uncertainty stop you from estate planning.

Instead, schedule an appointment with an elder law attorney and talk to the attorney about ways to create a plan that remains flexible.

Reference: Financial Advisor (Sep. 29, 2017) “What Your Estate Planning Clients Should Do In Response to Trump’s Tax Plan.”

Hear From Our Clients
tes-prev
tes-next

I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

- Charlotte

The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

- Kerri

Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.

- Pierce

Josh Nelson, and his staff, have been amazingly helpful to our family. The ins and outs of nursing homes, the rules and regulations that govern Medicare and Medicaid are daunting and the folks at Nelson Elder Care Law have been informative, responsive, and above all, empathetic. I cannot emphasize enough how their service has taken a weight off of our shoulders especially during a world pandemic that has targeted nursing homes across our country. I highly recommend retaining Josh and his firm!

- Marcia

I had a simple legal question to them that I needed answered and they very helpful in giving me the information I needed. I highly recommend them and will reach out to them if I need more advice or assistance. Thank you for taking your time to just answer a couple of questions I had!

- Ben