Establishing a foundational understanding of individual estate planning concepts and how those concepts work together to create a comprehensive plan are essential parts of starting a new estate planning practice. Your clients expect expert guidance on how to control their property, provide for themselves and their loved ones and how to plan for incapacitation and estate distribution.

The “vision thing.” The purported lack of it helped keep President George H.W. Bush from proceeding to a second term. It’s a given that successful people have a vision – or so it seems. But if you don’t have a clear vision for your estate planning practice, and it’s gnawing at you, don’t despair.

C corporations are often the best planning option for business entities. However, fears of the dreaded “double-taxation” may lead some to reject C corps without a closer look. But double taxation can be reduced, and in some cases avoided, making it an option worth considering. Attorneys seeking to maximize tax savings for their clients should investigate whether C corps are a good option for their estate planning. Simply put, double taxation means that the C corp is taxed on its income at the corporate level, and then its shareholders are taxed on the same income when it is distributed to them in the form of dividends.  Understandably, this is a situation most want to avoid or minimize.