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Death and Taxes: What’s your plan?

March 5, 2020

Off the Hawaii Air National Guard Facebook page

With the tax season upon us, what could be a more appropriate time than revisiting your estate plan? Still today, when we hear the term “estate plan” many think of those folks seen on  the vintage TV show, Robin Leach’s “Lifestyles of the Rich and Famous.” (alright millennials, google it.) Not so much anymore.

A well-coordinated estate plan permits use and enjoyment of your property during your lifetime and then passes the property to your chosen beneficiaries in the manner you wish, with the least amount of cost and time. You may find yourself asking “it costs money to give my property to who I wish after I pass?” Yes, ‘fraid so. Sometimes lots of it. If you pass without an estate plan, you still get one; but it is one written by the government. Do I have your attention now?

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