Hoffman Death Highlights All-Too-Common Estate Planning Oversight
- Friday, March 14, 2014
Contact: Berdon LLP (New York, New York, USA)
At the moment of his untimely death, actor Phillip Seymour Hoffman was a widely respected actor who had amassed considerable wealth. At the time he signed his will in 2004, he was just poised on the brink of success and fortune. The many estate planning techniques available to preserve and protect the assets that had grown substantially over the ensuing years were left unused.
For anyone, your estate plan should be a document that is revisited with regularity. Changes in your circumstances; marriage, divorce, births, financial success, to name a few can have estate planning ramifications. Ongoing tax reform that might curtail current advantages or present new opportunities can also raise the need to revisit your planning.
To see 15 Thought Triggers that might indicate a need to revisit your estate plan, click here.
To view the 2MinutesOn video "Financial Planning through Major Life Changes" click here.