Kevin O’Brien discusses how social distancing changes the debate over electronic wills in his latest article on The Recorder. As the COVID-19 virus continues to spread through communities, the prospect of offering people electronic wills, remotely executed and virtually witnessed, has a whole new appeal. Proponents of electronic wills want to bring the low cost and convenience of electronic transactions to the world of estate planning. Allowing consumers to shop for estate planning services online and create and sign wills from the convenience of their homes makes estate planning more accessible and affordable. The risk of fraud and undue influence, the argument goes, is always present in estate planning transactions regardless of the medium used to execute the documents. Any increase in risk is offset by the many advantages technology provides. The COVID-19 pandemic adds a new and weighty argument in support of electronic wills: public health.
Link: https://lnkd.in/dTQH5qe
Fiduciary accountings are easy to read when you understand the story they tell.
Ryan Szczepanik & John Hartog presented at The Tax & Planning Forum.
The 2017 Tax Cuts and Jobs Act became law on December 22, 2017, with most provisions becoming effective on January 1, 2018. Some provisions are permanent, while others expire. Most significant for gift and estate tax purposes is the temporary doubling of several exemptions.