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Will There Be Less Estate Planning Now?

The recently passed tax changes include a doubling of the estate tax exemptions. This has made many well-off families happy, but it has also left many of them wondering how they should respond to the changes.

People are not quite sure whether they still need to make estate plans now and if so, how their plans might be different than before. There is no single answer since it depends on individual circumstances. One way to help figure out what it might mean for most people, is to look at what elder law attorneys think will happen as a result off the changes.

Wealth Management discussed this in “Will High Estate Tax Exemptions Mean Less Planning?

Most elder law attorneys do not expect to see very many changes in planning. Those who do, tend to think any changes will be small.

One reason is the number of people who will no longer have to pay the estate tax. Why? Because the number of Americans with estates exceeding the higher exemption is relatively small, when compared to the general population.

A bigger reason is that many experts do not expect the changes to last very long and that politicians in will reverse the changes in the near future.

If you want to know what the changes mean for you personally, schedule an appointment with an elder law attorney to discuss it.

Hear From Our Clients
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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!

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