The business section of Sunday’s Los Angeles Times featured an article called “Time to prepare your will”. Discussing the importance of estate planning, the article included quotes from both of us. Here’s a few selections from the article:
If you’re rich, the best estate planning advice would be to die quickly. If you’re not, the best advice is to either review or rewrite your estate planning documents to make sure your heirs aren’t left high and dry if you die.
FOR THE RECORD: The Personal Finance column about estate planning in Sunday’s Business section misidentified the book “Trial & Heirs: Famous Fortune Fights!” by Andrew W. Mayoras and Danielle B. Mayoras as “Trial & Errors: Famous Fortune Fights.”
That’s because estate taxes that could allow Uncle Sam to nab up to 45% of your bequeathed assets are currently — and very temporarily — kaput.
A decade-long phase-out of the estate tax eliminated the tax completely as of January. The catch: If nothing’s done, estate taxes will boomerang back to historic