Many believe estate planning is a term and situation reserved for those who have amassed amazing amounts of wealth over their lifetime. The reality is very different than these assumptions and it changes daily on the federal, state and possibly on a local level. Each of these governing bodies plays a role in your estate and the impact that estate taxes may have on your heirs.
The estate planning strategy you embark on today will determine how significant the government’s role in your ultimate distribution of assets will be. The financial strategies you apply will directly impact how and to whom your wealth and assets are transferred.