• Follow
  • Follow
  • Follow


9990 Coconut Road, Suite 342, Bonita Springs, FL 34135



(239) 498-6999

  • Home
  • Attorney Profile
  • Practice Areas
    • Estate & Trust Planning
    • Probate, Estate & Trust Administration
    • Asset / Creditor Protection Planning
    • Business Planning
    • Wealth Transfer Planning
  • Testimonials
  • About Us
  • Resources
    • Blog
    • Events
    • Newsletters
    • Video FAQS
  • Contact Us
Casey Law Group
  • Home
  • Attorney Profile
  • Practice Areas
    • Estate & Trust Planning
    • Probate, Estate & Trust Administration
    • Asset / Creditor Protection Planning
    • Business Planning
    • Wealth Transfer Planning
  • Testimonials
  • About Us
  • Resources
    • Blog
    • Events
    • Newsletters
    • Video FAQS
  • Contact Us

What the 2018 Midterm Election Results Mean for Estate Planning and Deepening Client Engagement

Estate planning is an ongoing process, not a one-time transaction. While your core objective is to help your clients remain financially sound in the face of whatever comes their way, our core objective is to ensure a client’s estate plan works when it needs to.

Planning in a Fluctuating Political Climate
Estate plans need to change when your clients experience any major life changes, such as marrying someone new or welcoming a child to the family. But clients also need to respond effectively to large-scale legal and economic changes that are external to their personal lives. Regardless of your political leanings, it’s safe to say the United States is experiencing a period of dramatic legal, economic, and political change.

Elections like the 2018 midterms — and the resulting political change — often create fear and anxiety about how the impact of new laws and tax policy will affect your clients’ lives. You have undoubtedly seized the opportunity to help guide your clients toward the smartest financial decisions they can make in light of the results. When you help them navigate the ways the changing political landscape will affect their wealth, you’ll increase loyalty and retain more assets under management.

The Midterm Split: Democrats Won the House, Republicans Kept the Senate
Before the midterm elections, it was unclear how legislation like the 2017 Tax Cuts and Jobs Act would be affected. Now, we know that the House and Senate are split between Democratic and Republican control. As a result, the large-scale changes the Act brought may have an uncertain future.

So what does a divided government mean for your clients? The budget reconciliation strategy the Republicans used to pass the Tax Act will no longer be a viable option, which could slow any additional tax legislation supported by the Republican-controlled Senate. According to Kiplinger, “What is likely off the table with a Democratic House and Republican Senate is tax reform 2.0, which would make certain provisions of the 2017 tax law permanent, locking in individual and small business tax cuts. Social Security and Medicare reforms, which might have helped offset the effect of the tax cuts, are also likely off the table.”

Some Things Are Constant, No Matter Who’s in Charge
Amid so much political uncertainty surrounding the midterm elections, it’s important for your clients to remember there are many foundational constants in estate planning that are important no matter who’s in charge politically or what the tax laws look like. As part of your clients’ financial wellness team, we’re staying on top of the latest developments and will be here to guide them in matters of estate planning. We’re constantly watching the situation and will keep you and your clients informed of relevant legal and tax changes.

In order for your clients to grow and retain their wealth, careful estate planning is always a necessity — regardless of which party controls Congress. Many things may change, but a lot will remain the same: no one can legislate away irresponsible spending, divorce, lawsuits, bankruptcy, sibling rivalry, and the many non-tax reasons to complete estate planning. An up-to-date comprehensive estate plan remains the best option for passing along a client’s wealth and values to the next generation.

We are here to help you and your clients in these changing times. Give us a call today.

Newsletter Archive


View All Newsletters
  • Advisor Focused Newsletter 50
  • Client Focused Newsletter 51

Services:

Estate & Trust Planning
Probate, Estate & Trust Administration
Asset/Creditor Protection Planning
Business Planning
Wealth Transfer Planning

Disclaimers:

Terms & Conditions
Privacy Policy

Follow Us:

  • Follow
  • Follow
  • Follow

Disclaimers:

Terms & Conditions
Privacy Policy

Services:

Estate & Trust Planning
Probate, Estate & Trust Administration
Asset/Creditor Protection Planning
Business Planning
Wealth Transfer Planning

Follow Us:

  • Follow
  • Follow
  • Follow
2020 Copyright Casey Law Group P.L. A Website Design by Ahrens Technologies | Kirkland’s Webdesgin.
Accessibility by WAH
  • Home
  • About Us
  • Asset and Creditor Protection Planning
  • Asset Protection Law
  • Attorney Profile
  • Blog
  • Business
  • Business Formation Law
  • Business Owner Planning
  • Business Planning
  • Contact Us
  • Contact Us
  • Estate & Trust Planning
  • Estate Planning Law
  • Events
  • Home
  • Privacy Policy
  • Probate, Estate & Trust Administration
  • Terms and Conditions
  • Testimonials
  • Testing Video
  • Trust Administration
  • Video FAQs
  • Video Links
    • Are there other ways of leaving property to my beneficiaries other than through a will or a trust?
    • Are there things I can do to protect my existing business?
    • Can any attorney create a family wealth trust?
    • Can I leave my property to anyone I choose? 
    • Can I make provision in my will for my pets?
    • Can I specify that certain people, like a brother or sister, should never receive any of my property?
    • Can I transfer real estate into a family wealth trust?
    • Can I use my will to name a guardian to care for my young children and mage their property?
    • Can I use my will to name a guardian to care for young children and manage their property?
    • Can my power of attorney make or change my will?
    • Can trustees get help administrating trusts? 
    • Do I have to employ asset protection for all types of assets?
    • Do I need a financial power of attorney?
    • Do I need to name a trustee in my will?
    • Do we have to take account of minority shareholders’ interests and wishes in a family business?
    • Does a small business (subchapter S corporation give me the same protection as limited liability company (LLC))?
    • Does a will control all of my property?
    • Does all property have to go through probate when a person dies?
    • Does an executor (personal representative) get paid?
    • Does the person named in the will as executor (personal representative) have to serve?
    • How can a limited liability company provide me with asset protection?
    • How can an estate plan may things easier on my family after I die?
    • How can I leave specific items to particular people?
    • How can I make sure I will keep control of the family business if I get divorced?
    • How do I best protect my personal assets if I start a small business?
    • How do I get started with a succession plan?
    • How does a family wealth trust differ from a revocable living trust?
    • How does a revocable living trust avoid probate? 
    • How does trust administration differ from probate?
    • How is undue influence determined?
    • How long is a will valid?
    • How often should a succession plan be updated?
    • How often should my will be reviewed?
    • I want to start a small business with two partners. What is the best way to protect myself?
    • If I become incapacitated, will I need a durable power of attorney if I already have a living trust?
    • If I create a revocable living trusts, do I still need a will?
    • If I die owing debts, who pays my debts?
    • If I made a will, but lived in another state. Now I live in Florida. What should I do?
    • If I make a living trust, do I still need a will?
    • If there is a divorce in the family can we get shares back from an ex-spouse who is no longer a family member?
    • Is it possible that I may need more than one LLC?
    • Must I leave something to my spouse and children?
    • Should I avoid probate?
    • What are the benefits of a succession plan?
    • What are the signs of undue influence?
    • What are the uniform fraudulent transfer act (UFTA) and the uniform fraudulent convevance act (UFCA)?
    • What are trusts?
    • What benefits does a trust offer?
    • What does a guardian do?
    • What does a proper estate plan include?
    • What does if mean to fund a trust?
    • What does testate and intestate mean?
    • What happens if I become unable to care for myself? 
    • What happens if I die without a will?
    • What happens if you do not have a will or trust? 
    • What if become disabled and am no longer able to manage my affairs?
    • What is a bypass trusts?
    • What is a domestic asset protection trust?
    • What is a durable power of attorney?
    • What is a family wealth trust?
    • What is a fiduciary?
    • What is a health care power of attorney?
    • What is a health care proxy?
    • What is a living will?
    • What is a pour-over will?
    • What is a QTIP trust?
    • What is a registered agent?
    • What is a revocable trust?
    • What is a testamentary trust?
    • What is a testator and a testarix?
    • What is a trustee?
    • What is an A-B trust?
    • What is an executor (personal representative) and what does the executor do?
    • What is an irrevocable trust?
    • What is asset protection?
    • What is codicil?
    • What is estate planning?
    • What is incapacity or a lack of capacity?
    • What is included in my estate?
    • What is offshore planning?
    • What is personal residence trust?
    • What is piercing the corporate veil?
    • What is probate?
    • What is tenants by the entirety?
    • What is the difference between a will and a trust?
    • What is the difference between having a will and family wealth trust?
    • What is the difference between traditional estate planning and wealth planning?
    • What is trust administration?
    • What is wealth transfer planning?
    • What property does my will control?
    • What protection is available through a family limited partnership?
    • What will I still have control over my property if I have a living trust?
    • When does the trust administration process start?
    • When is the right time to begin estate planning for myself?
    • When is the right time to start succession planning?
    • When should an estate plan be reviewed? 
    • When should I review my existing will?
    • When should I start asset protection?
    • Who administers trusts?
    • Why do I have to be careful about fraudulent transfer rules?
    • Why should I make a living trust?
    • Will a family wealth trust avoid income taxes?
    • Would a living trust provide protection for my assets if I were sued?
  • Wealth Transfer Planning
  • Wealth Transfer Planning
  • Will and Trusts Law