TITLE

Estate Planning Emerging from Its 'Dark Cave'

AUTHOR(S)
Feigenbaum, Alan
PUB. DATE
June 2002
SOURCE
Journal of Financial Planning;Jun2002, Vol. 15 Issue 6, p46
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article focuses on the approach of financial planners to estate planning in the U.S. Many veteran planners no longer tread warily around the mention of death, but instead engage actively in wide-ranging give-and-take on divorce, intergenerational relationships and other once-taboo intimate family issues surrounding estate planning. In addition, planners have seen the unprecedented giving, spawned by the 1990s boom, consolidate into a recession-induced period of taking back some generosity to charities and family, further fueled by the higher exempted amounts in the new estate-tax structure. Finally, in the aftermath of September 11, planners are seeing many more clients give estate planning a higher priority and take less time authorizing its implementation. These changes suggest that giving your clients full service requires taking a closer look at how these estate planning trends reflect new client needs and expanded expectations. This article summarizes the conclusions and experiences offered by several financial planners regarding five aspects of estate planning, namely, clients' motivations to seek estate planning and the financial concerns they express, client estate problems, communication between planners and clients, specific estate planning vehicles included in estate plans and the role of consulting experts.
ACCESSION #
6868642

 

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