What are Some New Trends in Estate Planning – Legal Newsletter
They include naming heirs and creating trusts, or declaring who will legally manage your financial affairs if you are mentally incapacitated. Rabalais Estate Planning, LLC examines the latest trends regarding probate estate planning.
Most popular is the estate planning done from home. The process involves videoconferencing, or perhaps the phone to communicate with an estate planning lawyer. The only thing a client needs to complete is sign legal papers. COVID-19 allows clients for this to be done entirely in the vehicle of the client, so the client doesn’t require a long trip from home. Prior to 2020, the majority of customers demanded face-to-face meetings with their estate lawyers.
Artificial intelligence is another trend which allows legal documents to be prepared, and later checked. Certain states permit legal documents that are emailed or faxed via the internet. This is an aspect of an overall trend to use technology to improve the estate planning industry to make it easier for everyone who sits on the lawyer’s office.
Estate tax is also a problem for consumers. The tax is expected to be cut by half from the 1st of January, 2026. Clients want to make preparations today to help their heirs aren’t subject to the 40 percent estate tax. sl5hcc75cy.
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