The Morning After — Continued

Continuing their discussion featured previously on this blog, John J. Reddy Jr. and Marc S. Bekerman have published their recent article entitled Essential Steps After “Finishing” the Estate Plan: Part 1–Post-mortem Planning, Prob. & Prop., May/June 2007, at 46.

Issues covered include:

• Elections under IRC §§ 754 & 732
• Appraisals
• Review and revision of business documents.

The authors conclude by reminding estate planners that

[t]he estate planning process does not end with the execution of documents and creation of entities.  A good attorney will ensure that all necessary steps are taken to ensure the estate plan is effective by frequent follow-up with the client.