Dave Ciambella

Does Your Attorney Specialize in Estate Planning?
March 19, 2008

Estate planning is often a dreaded topic for business owners, but, unfortunately, it can have a significant impact on succession planning and ultimately the value of your business if not done properly and kept up to date. This is especially true for those of you with taxable estates!

There is no question that the estate tax is the most confiscatory tax in the land. However, it is a voluntary tax in that there are a multitude of planning techniques available to those who invest the time and energy in understanding the tools and techniques to avoid estate taxes and then actually implement some of them. Implementation requires a knowledgeable attorney who specializes in estate tax, remains on the cutting edge and who often times is Board Certified in Estates and Trusts. Those of you with taxable estates represent approximately two percent of the population.

Let me ask you a question: If you went to the doctor and were told you have a heart condition that requires surgery, would you rather use a general practitioner or a heart surgeon? The answer is obvious. However, many business owners implement their estate plan with attorneys whose practice primarily deals with the other 98% of the population (those with non-taxable estates). So the question is: Does the person who developed your estate plan specialize in estate planning or does he or she specialize in another area?

Posted by Dave Ciambella on March 19, 2008 | Comments (0)