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Jun 1, 2011 12:00 PM
A Two-phased Approach
Move the estate administration process forward without overwhelming your client
Whenever a client comes to us after the death of a loved one, particularly in the case of a surviving spouse, he's typically quite overwhelmed. Generally, we find that our clients fall into two categories — those who don't know where to begin with the estate administration process and those focused on minute details. In either case, it's our job to help clients understand and feel confident to make decisions regarding the estate administration process. For clients with loved ones who passed away in 2010, there are several new hurdles to overcome in this endeavor.
Our client fiduciaries and beneficiaries have come to us struggling to make sense of the estate tax options available. Many have spent all of 2010 hearing that there'd be no estate tax. Most are surprised to learn of the election opportunity to either use the new default estate tax regime or opt out of the estate tax and apply the Internal Revenue Code Section 1022 modified carryover basis rules. They're overwhelmed with the increased analysis required to make their decisions and feel anxious that Congress will change the laws again.
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Topics of Interest
| Estate Tax | Donor Advised Funds |
| GSTs | Family Offices |
| Private Foundations | Life Insurance |
| 2010 Tax Act News | Industry Trends Surveys |
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Topics of Interest
| Estate Tax | Donor Advised Funds |
| GSTs | Family Offices |
| Private Foundations | Life Insurance |
| 2010 Tax Act News | Industry Trends Surveys |
E-Newsletter Signup
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