This column is a summary of ideas and concepts to consider as you communicate with your clients during the pandemic. First, planners should note that the virus may tend to help people to overcome the procrastination that so often occurs with estate planning. Second, planners should consider recommending a transfer of a business interest while the value of the entity is low because of uncertain projections of future profits. Historically low interest rates can also propel effective estate planning.
Author: Dennis C. Reardon, JD, LLM, CLU, ChFC, is the principal of Reardon & Associates, a law firm in Wayne, PA, where he specializes in tax matters related to estate, business, and compensation planning. He is a fellow of the American College of Trust and Estate Counsel and is a frequent speaker at professional meetings throughout the United States.
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