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Author: 2gifts Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75670  
Subject: Re: Talk me out of a Financial Advisor Date: 6/5/2013 10:40 AM
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Here's a discussion of the new estate tax and portability of the exemption as between spouses, without the need for an AB Trust.

Thanks. I was not aware of this change, and it looks very good to me.

We created our existing trusts back in 1994, and the laws have changed several times since then. We have made several changes along the way due to changes in our own circumstances as well as changes in the law, and are about ready to do another change.

We review our trusts at least every 5 years to see if something needs to be changed, which is also something that should be done. You can't just put your estate plan in place and leave it as things do change in life (kids get married, grandchildren arrive, kids finish college, a spouse dies, tax laws change....)

And I think this also points out yet again why an estate plan should be done with an estate planning attorney to ensure that you are doing what you want, and that both state and federal laws have been taken into consideration.
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