Questions To Ask…At The End Of The Year

Many of us are in the final days of tax planning and that is a good thing.  There are methods to lessen the “tax bite” and your financial planner is probably aware of the most appropriate ones for your tax situation.

There are also some other important questions to ask yourself, going into the new year.  The three that come to mind are:  Who would make my medical decisions for me if I were not able to do so?  Who would handle my financial affairs if something happened to me?  Who will get my assets when I am gone?

If the answer to those three questions are:  “I don’t know” – then you probably need some estate planning advice.

But beware – make sure you know what kind of advice you are receiving.  Jay Adkisson, a partner of Riser Adkisson LLP is a Forbes magazine contributor and his article (Forbes, 11/12/2014) entitled, “Beware: The Estate Planning Aggregators And Their Planning Blueprints” is an eye opener!

In his article, Adkisson explains: what is an aggregator;  how do you know you are dealing with an aggregator; what they do (or more importantly what they do not do); and what you might be paying for and expecting, but not receiving (according to the article, some ‘aggregator’ services can charge $40,000 for their services).

You can access the entire article via the following link  or do a search on Forbes on line Forbes-Personal Finance 11/12/2014

One piece of worthy advice is to seek legal counsel about your estate planning needs from a trusted estate planning professional.  You can get information and check  the qualifications of an estate planning attorney from various sources – the State Bar Association (in your state); from the American Bar Association (ABA); from AVVO – a ‘ranking’ of attorney qualifications; Super – another site for lawyers who have achieved excellence in their field of law (by state and by practice area); from ACTEC, the American College of Trust and Estate Counsel; and from the American Academy of Estate Planning Attorneys.

Working To Preserve Your Wealth and Protect Your Future…in a Constantly Changing World

Please see my disclaimer at the bottom of this page and the column “How I Can Help You”

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About Attorney Barbara Ann Dalvano

Attorney in Denver, Colorado with extensive practice experience in the areas of Estate Planning, Wills and Trusts, Business Succession Planning, Probate, Contract Law.

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