Robin Hood and the confusing mess right now

“The best and most beautiful things in the world cannot be seen, nor touched … but are felt in the heart.”

- Helen Keller

Haven’t there been enough versions of this tale?

Apparently not. The Russell Crowe version hit the screens over the weekend, and according to reviewers, it’s “unclear” what kind of political statement Mr. The Hood is making by his actions.

Is he a “Tea-Partier”…or is he robbing the rich to give to the poor? Well, one thing he DOES do is rob from the corrupt, and give to the needy. But in this case, the “needy” happens to be a former land baron–a small business owner, if you will.

So…make of this what you will.

But there is a taxation theme. King John seems to be trying to squeeze his subjects for every last dime, and employs thugs to do it. Robin Hood to the rescue!

Well, with taxes on the mind, as you may know, Congress hasn’t yet taken any action on a situation. We currently see no estate tax plan in place. It’s a confusing mess…for some planners.

(Here’s a story about options they’re considering–including a “pre-paid” estate tax option:

http://thehill.com/blogs/on-the-money/domestic-taxes/97239-kyl-deal-on-the-estate-tax-in-the-offing )

So, what does that mean for you and your family?

Well, it may not actually mean much–but there are some things which you should always be thinking about, REGARDLESS of the “estate tax” situation. Read on…

“Straight Talk” Personal Strategy

Do More Than “Just” Avoid Taxes

It’s an all-too-common misconception that smart estate planning is all about avoiding the “estate tax”.

And, if that were the case, only the very wealthy would be affected by it–since (until this year, with no current legislation in place) only those with estates carrying over $3.5 million in value weren’t exempt.

You may fall into that category, but even if you DON’T (and if you do), you should be considering the following questions as a family. You see, regardless of what’s happening in Congress, you should focus your attention on what issues you can deal with now:

What are your values and goals?

The key question to ask is, “How do you want your success to affect your children and grandchildren?”

Every family has a different answer to that question, and it’s an extremely important–foundational–component of how we work with our client families. Some planning only takes “money” into consideration. And while that’s certainly an important item to consider, the money is really only there to create a specific destiny, and style-of-life that you’d want to see carried into successive generations.

And it doesn’t require a lot of “it” [money] for you to be able to pass along your most precious values.

I often urge my clients and friends to actually take the time to consider this question, because it may seem obvious on its face…but your answers will often surprise you.

And we’re here to provide any kind of support along the way which you might require. We’re pretty practiced in helping families cut through the clutter of financial statements–and find the hidden gems of core values and relationships.

And THOSE are the only things which really do last forever.

Let’s talk more, if you want to explore these issues. Because regardless of how Congress eventually acts, walking without the right kind of plan can create an even worse mess when the time comes–and it’s not just about the money.

With that, I’ll leave you until next week.

I’m personally dedicated to the success of your family–and to your dreams! Can other lawyers say that?