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Hess Law Group News

Estate Planning is Complicated

Friday, September 25th, 2015

While it remains to be seen whether the the Big Four (formerly Big Five, as a proud Arthur Andersen alum) Professional Services firm is truly at fault, the fact there is even a question as to whether multi-national organization with over two hundred thousand (200,000) employees is to blame for William Davidson’s enormous estate tax bill goes to show that tax and estate planning is quite a difficult endeavor. ¬†Certainly, less than one percent (1%) of estates are likely as complicated or valuable as Mr. Davidson’s, but Mr. Davidson had teams of lawyers and tax professionals assigned to his plan to make sure of the best possible result for his estate and family; and according to this recent lawsuit, the high powered team made a Five Hundred Million ($500,000,000.00) Dollar mistake.

Whether you have an estate which may incur taxes, or an estate which may be complicated due to blended families or small businesses, an estate plan is necessary so your family does not wind up owing taxes, frustrated with the estate distribution or forced to sell a family business.