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Tax Time Can Also Be Estate Planning Time, Elder Law Attorney, Woodstock, GA


One of the best times to review your estate plan, or to get one if you do not already have one, is when you are doing your yearly taxes.

Even if you have the assistance of an accountant, filing your income tax return can be a time-consuming and frustrating process. Most people want to get it over as quickly as possible. However, it is actually an excellent time to extend the burden a little bit and do some estate planning.

Think about it. While doing your taxes you will be gathering much of the same documentation needed to review an estate plan. In addition, the documentation will be fresh in your mind.

Accounting Web recently offered some tips about estate planning during the tax season in “Estate Planning Reminders for This Tax Season.”

The advice includes:

  • Review or Get a Will – Spend a little time to review your will and make sure everything is up to date. If you do not already have a will, visit with an estate planning attorney about getting one.
  • Prepare a Letter of Instruction – Make a list of your assets, where they are located, and how they should be handled in your estate.
  • Review Beneficiaries – Since you should have the asset documentation available as part of your tax preparation, make sure all beneficiary designations are up to date.
  • Consider a Trust – Again since you already have the documentation handy, tax time is a good time to have a trust drawn up and to transfer assets into the trust.
  • Beware Free Lunches – Many shady companies like to offer free seminars on estate planning or retirement planning around tax season. They know people tend to worry about their finances at tax time. Often these seminars offer a free lunch. Usually, these are nothing more than heavy-handed sales pitches and you should avoid them.

Tax time is a great time to introduce your tax preparer and your estate planning attorney, so all of the bases are covered each year.

Reference: Accounting Web (Feb. 8, 2016) “Estate Planning Reminders for This Tax Season.”

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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