Estate planning and administration law is in a period of uncertainty. Today, most estates do not exceed the exemption limits of the Federal Estate Tax. Many may not see the need for proper estate planning in this climate; however, two important factors require all of us to consider the importance of estate planning today.

The first factor is the uncertainty of the exemption limits for the Federal Estate Tax. While the limit in 2007 is two million dollars ($2,000,000.00) and will increase to over three million in 2009, there will be no tax in 2010. However, the limits then go back to one million dollars ($1,000,000.00) in 2011. The taxation rates also vary greatly. These wide variations must be considered in protecting your estate for the future.

Second, regardless of the size of your estate, you should have the final say in what happens to the assets that you have worked to gain. Proper estate planning is the surest way to establish that your wishes are followed. Other factors, too numerous to list here, go into the need for a proper estate plan. You can call the Vanover Law Office today to discuss these factors and your needs.