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February 1, 2022 / Newsletters

Insight on Estate Planning, February/March 2022

Weinstock Manion is pleased to present the February/March 2022 issue of Insight on Estate Planning, our bi-monthly newsletter. We encourage you to read it for ways to implement your estate plan more effectively, including ways to minimize taxes on your estate so as to maximize its value for your loved ones. We realize that we cannot fully address these complex issues in a few short articles, so we invite you to contact us to discuss your specific needs.

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In this issue:

Don’t Count Out The Bypass Trust
To paraphrase Mark Twain, the reported demise of the bypass trust may be greatly exaggerated. In fact, this estate planning technique is still a viable option for many individuals and may actually stage a “revival” in future years. This article details the estate tax law changes that slightly reduced the necessity of using a bypass trust and explains why future tax law changes may make it once again attractive. A sidebar provides a brief history of the gift and estate tax exemption.
Read this article.

COVID-19 And Estate Planning:
Estate Planning Is Possible In A Socially Distanced Environment

In light of the ongoing COVID-19 pandemic, some people may be leery about visiting their advisor’s office to attend to estate planning documents. The good news is that for those who need to plan their estates or execute critical documents but don’t want to meet face-to-face, there are ways to do so in a socially distanced environment. This article explains options for meeting remotely and signing documents.
Read this article.

Create An Elder Care Plan For An Elderly Loved One
For families caring for an elderly family member, it’s critical to have an eldercare plan in place. If a parent or an in-law is experiencing difficulties caring for themselves, it’s time to call a family meeting to create an eldercare plan that addresses key issues and includes contingencies. This article explores topics to cover during the family meeting.
Read this article.

Estate Planning Pitfall:
You’re Using The Wrong Type Of Living Trust
Using a living trust makes sense for those looking to preserve assets for other family members without dire tax consequences or to avoid probate. But which trust type to choose? A “revocable” or “irrevocable” living trust? The answer can make a big difference. This brief article explains why the wrong type of trust can defeat a person’s main intentions.
Read this article.

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