Happy New Year!
First, we would like to thank you for making 2015 a record year for the firm. Much of our success is attributed to our incredible clients and professional relationships, and we look forward to continuing our service to and strengthening our relationships with you in 2016.
As a year end reminder, if you created a trust in 2015 or a prior year, please double check to see that you have funded the trust with what you had intended to fund it with. For example, many of our clients deed their home into their trust, retitle certain assets into the name of the trust, etc., which ensures you capture the benefits of creating the trust. This step is often unintentionally overlooked.
Also, many name friends or family members to serve as executors, trustees and powers of attorney. As relationships change and/or children get older or experience challenges themselves, often those appointments need to be revisited and revised.
Finally, as we begin a new year, you may consider revisiting your planning documents as the estate and tax laws are always evolving and/or you may have had a change in personal circumstance that may necessitate an update to your current estate plan documents, including but not limited to the following:
(i) becoming a parent or grandparent;
(ii) a change in marital status;
(iii) inheriting a substantial amount of property;
(iv) a marked increase or decrease in your net worth compared to what it was when you executed your estate plan; or
(v) acquisition of assets in another state.
Thank you again for a wonderful 2015 and the opportunity to serve you!