A Blank Piece of Paper



Procrastinate. We all do it, especially when the topic is uncomfortable or surrounded by uncertainty. To anyone reading who has not begun to plan for his or her legacy, you are not alone. Over 55% of Americans who die each year do not have a will or any estate plan, according to LexisNexis. The good news is that you have a blank piece of paper to begin to plan thoughtfully for future generations. To those of you who have created a plan but have not looked at it for a decade or so, there is no time like the present to take a fresh look. The coming months will likely provide a catalyst for future planning as the Trump administration takes aim at broad-based tax reform. You should be ready to act. As such, we have outlined a general framework to assist you in thinking through your family goals and your legacy. We have included select current tax law references throughout the paper and further details in the appendix. Planning, however, is more important than just current law. A well-thought-through plan and sustainable governance process for your family can be molded into any future tax regime and will stand the test of time for generations to come.

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