From the October 2009 issue of Investment Advisor • Subscribe!

Getting Estate Planning Help

Sidebar to the feature article "Wealth Matters"

More On Tax Planning

from The Advisor's Professional Library
  • Health Insurance: Health and Medical Savings Accounts A Health Savings Account is a trust created exclusively for the purpose of paying qualified medical expenses of an account beneficiary. Although they are popular, they are not without their pitfalls and the regulations can be complicated. Learn more about how to avoid federal taxation on the accumulation and distributions of HSA.
  • Charitable Giving Charitable giving can reduce your clients’ tax liabilities. However, the general and verification rules for the deduction of charitable gifts must be understood in order to take full tax advantage of such gifts.

The next few years will be a challenging time for advisors to stay current in creating, monitoring, and modifying clients' estate plans. Trusts, tax, and estates lawyer John Scroggin makes the following suggestions on how advisors can stay up to speed:

o Find and join a local estate planning council; get started by using the convenient search tool on the National Association of Estate Planning Councils at NAEPC.org

o Join or create an estate planning study group

o Build a relationship with a bank trust department that allows advisors to remain involved (you can find such departments using the Association of Independent Trust Companies' site at AITCO.net, or view Investment Advisor's listing of trust companies that welcome advisors found under the Directories tab at InvestmentAdvisor.com)

o Contact members of your

State bar association's estate and probate section

State CPA society's estate section

o Find top local estate attorneys at: Martindale.com; SuperLawyers.com; NAEPC.org

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