As Congress debates the estate tax, financial advisers and their clients try to figure out what to do in the meantime. The estate tax uncertainty makes current planning difficult, and advisers have different ideas of what we should be doing now. Charles Passy of the Wall Street Journal asked several financial advisers across the country what they are recommending for their clients. Some suggest giving gifts, some suggest setting up dynasty trusts, and others urge individuals to avoid the temptation to delay estate planning at this time.
For more information, including tips from financial advisers from Indiana, Colorado, Texas, Massachusetts, California, and Washington, D.C., see Charles Passy, What You Should Do Now, W.S.J., Sept. 20, 2010.
Special thanks to Jim Hillhouse (WealthCounsel) for bringing this to my attention.
