The Legal Catastrophe: The Chinese Warrior Never Steps Twice Into the Same River

This world, much like a Chinese river, is constantly flowing around your family and business. This river is visible as changing laws, tax obligations, the economy, and your family circumstances. With our new president advocating change, the river's current is moving even faster

A new Arizona Trust Code is settling into the courts. Starting next year, estate tax percentages and exemptions will be going the wrong way. New medical coverage laws are beginning to implant themselves, and immediate action must be taken to ensure that you do not drown in this fast moving and complicated real life river.

The Wealth Preservation and Preventive Law Solution

In the next six months, more than ever, you must meet with your estate and business planning attorneys to review your complete legal portfolio to:

1. Make tax free and reduced tax gifts to protect your assets from a high estate tax of 55% with a lessened Federal and State tax exemption. Do this while the Estate laws allow discounted gifts of limited partnership shares, non-managing LLC shares, and non-voting and minority corporation shares.
2. Amend your living trusts to avoid the nefarious provisions of the new Arizona Trust Code.
3. Make sure the shelf life has not expired on your Basic Legal Emergency Documents (BLEDs). These include documents like your living will, medical power of attorney, mental health care power of attorney, and your HIPAA authorization.
4. Consider opening a Health Savings Account as they may eventually diminish under President Obama's new health care reform.
5. Make additional moves based on your own individual circumstances as determined by what we call a Periodic Preventive Law Review (PPLR).