“Thought for the Day” #847 – by Stephen R. Elville, J.D., LL.M.

November 16, 2016

Will your estate or elder-focused planning be affected by President-Elect Donald Trump’s legislative agenda – either in the first one hundred days of the new presidency, or throughout the next four years? The answer is very possibly yes, based in this week’s flurry of press releases and news media commentary, reports from tax and legal information services, as well as those from accounting, legal, and financial firms, the comments of experts, and general analytical speculation among lawyers and CPAs. Notwithstanding all the present commentary however, worry is not the answer. Rather, and as this writer has suggested many times, flexibility in the construction of your planning is – it is the key to dealing with these potential landmark events. Whether your planning will be majorly affected depends entirely upon the nature of the actual change(s), and the adaptability of your plan. Along these lines, all estate and elder-focused plans should be reviewed between now and the end of the first 100 days of the new presidency.