With the current estate planning climate creating a focus on income tax rather than estate tax, many areas of estate planning fall within the purview of financial planners and wealth managers. Things to periodically check on include keeping an eye on capacity issues, swap out trust assets as necessary, and adjust the timing for charitable deductions. After a client passes away it is important for planners to check the tax consequences of the executor taking a commission and which assets to use to fund bequests.
See Martin Shenkman, Estate Planning Tips: Before & After Client’s Death, Financial Planning, March 17, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
