Reader,

I hope you had a wonderful and safe 4th of July weekend. We spent ours in St. Augustine, and it couldn’t have been better.

It’s hard to believe 2021 is halfway done. As we enter the back nine, though, it's time to start to think about end-of-year planning. This means reviewing your current estate plan, identifying any life or financial changes, and updating the necessary documents and instruments.

It may seem too early for “end-of-year” planning, but making changes takes time. How much time? Well, that depends on a number of factors, including the complexity of your estate and the scope of the revisions.

Plus, as you will see in a second, there’s a real possibility of sweeping tax policy changes being enacted within the next few months. This fact increases the importance of reviewing and adapting your current plans to offset negative consequences.

To help you address this situation in a timely fashion, I’m offering complimentary estate plan reviews until August 31. After that point, I cannot promise that there will be sufficient time to enact the necessary changes to your estate planning documents. Call, email, or text me to set up a time. I'd love to hear from you.

Three Competing Tax Proposals

A few significant tax proposals have been introduced this year that could seriously impact your estate planning options going forward. There are three primary proposals thus far:

1. The “For the 99.5% Act” from Senator Bernie Sanders,
2. The “Sensible Taxation and Equity Promotion Act” from Senator Chris Van Hollen, and
3. The “American Families Plan” from President Joe Biden.

Senator Sanders’ plan is similar to his previous one, but the Van Hollen and Biden plans are new, and could fundamentally alter your estate planning strategies.

New Resource: Digital Asset Catalog

As our digital footprints continue to grow, keeping track of all of the logins, passwords, and other credentials can get overwhelming. That's why, last month, I rolled out a new estate planning resource to help you manage and plan for the future of your digital assets.

Such things are often overlooked during the estate planning process. But without the necessary information, these accounts could be inaccessible to your family, heirs, and loved ones. Be sure you plan for the safe and secure transfer of your various digital assets to your heirs.

Thank you for another great month. If you have any questions about creating or updating an estate plan, don't hesitate to reach out. I'm available by phone (561-998-2362), by text (561-867-8847), or by email (Paul@PLabinerEsq.com) I'd love to speak with you.

Sincerely,

Paul Labiner, Esq.

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