Estate Planning Procrastination
In my elder law practice, far and above all other concerns is client
procrastination. Most people wait until something bad happens
before they take action or make decisions. Unfortunately, with
eldercare, this can severely limit your options.
In 2015, there are still 20 U.S. jurisdictions that collect a death tax at the state level: Connecticut, Delaware, District of Columbia, Hawaii, Illinois, Iowa, Kentucky, Maine, Maryland, Massachusetts, Minnesota, Nebraska, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Tennessee, Vermont, and Washington. Even if you don’t live in one of these states, the state estate tax may affect you in the future since many people move from time to time. It may affect your beneficiaries, because they may live or move to one of these states. (more…)