Recently, America lost another great singer and entertainment personality, with the passing of Aretha Franklin, the Queen of Soul. Unfortunately, she joined a long list of celebrities who died without a will or estate plan in place, and now her $80 million estate is in play. Some years ago, Robin Williams’ family encountered a similar issue when he died without a will or estate plan, and a bitter family feud broke out over his estate.
We would be wise to learn from these situations: be prepared, make a will so your wishes are clear, regardless of your financial situation. Don’t leave your family’s well being to chance or up to the whims of a court, bank, or legislature that doesn’t know you or understand your situation. An estate plan ensures your wishes will be followed and your family will be taken care of.
We have a new tax law in place that helps many individual and families. For 2018, the IRS gift tax applies to all gifts over $15,000 ($30,000 for a married couple) to each person, and the IRS estate tax applies to all estates over $11.18 million per person ($22.36 per married couple).
Life is short, and the best time to act is now. Don’t risk your family’s well being or relationships by delaying important decisions. If you need an estate plan (for any size of estate) or need help probating a loved one’s estate, my law firm is here to help. A good estate plan is affordable and will give you and your family peace of mind. My law firm, Johnson Law KC LLC, works with clients on various estate planning, elder law, and probate needs, including preparing wills or helping on will contests, to help clients take care of their legal needs quickly and inexpensively, and has years of experience counseling clients on a variety of legal issues. Call (913.707.9220) or email me (firstname.lastname@example.org), the KC Estate Planner, today to schedule a free, convenient consultation.
(c) 2018, Stephen M. Johnson, Esq.