1.3 Formulating the Estate Plan

• Library: A Lawyer's Guide to Estate Planning: Fundamentals for the Legal Practitioner (ABA) (2018 Ed.)

1.3 Formulating the Estate Plan

Following the initial conference, collection of the necessary data, and any other required client conferences, the lawyer is ready to formulate the estate plan. Fortunately, creating an estate plan for most clients is no longer complicated by estate tax considerations. Yet, for larger estates, the lawyer must still take into account the amount of federal and state estate taxes that will be owed by the estate. The available tax savings options must be considered. The question of estate liquidity must be considered, as must the apportionment of the death tax liability among the estate beneficiaries. Consequently, the formulation of the estate plan...