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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
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“On the threshold of retirement, we finally decided to quit thinking we could self-prepare the requisite documents. We had previously had only a very simple will. We needed the necessary legal (including updated will) & health care docs but didn’t want to deal with the time & complication of legalese. Cindy made the process relatively painless. She took the time to explain and answer questions without trying to upsell services. We were done in 2 meetings plus the reading of emailed drafts. In addition to preparing the documents, Nelson Eldercare will be there when our adult children need advice on executing the plans we’ve put in place.So glad it’s behind us and would recommend Cindy and her helpful staff.”

- Bonnie

Cindy and her company treat their clients like family. Nelson’s offers clear, direct, and honest guidance in planning for your families security and future. No one wants to actively sit down and make these decisions, but Nelson’s makes this process seamless. I was so impressed with their willingness to answer all questions big or small. So glad I made the decision have them help my mom and dad and now me. You can’t go wrong with Nelson’s Elder Care Law.

- Hope

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

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

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