Author Topic: Death and Taxes  (Read 1125 times)

Offline lking348

  • Fledgling Prepper
  • *
  • Posts: 6
  • Karma: 0
  • New TSP Forum member
Death and Taxes
« on: October 11, 2012, 05:02:41 AM »
If you think the government is too involved in your life now—wait ‘til you find out what happens when you die or become severely incapacitated! My husband and I just attended a seminar on estate planning, and what we learned was sobering. You can’t take it with you, it’s true—but did you know that the value of your estate could shrink by 10 to 50+% because of taxes, probate fees, and attorney fees? And when I say "estate," I'm not talking about only people with a net worth of $1 million or more. No matter how much--or how little--you have, it's all at risk if you haven't done any estate planning.

And it turns out a simple will is not enough to protect your family from financial disaster, because it speaks only if you die. If you are married and one of you becomes incapacitated and unable to make decisions for yourself, your spouse will face months, and possibly years of pain, anguish, and serious aggravation while dealing with probate courts, nursing homes, the state and federal governments—and maybe even contentious relatives—in managing your care and trying to remain financially secure.

As John Lennon said in his song "Beautiful Boy"-- "Life is what happens to you while you're busy making other plans." You don't have to be old and infirm to have life throw you a curve ball that sends you into the murky waters of probate court. This is the ultimate prep, folks. If your goal in prepping is to preserve a decent lifestyle for you and your family, then estate planning should be at the top of your prepping to-do list.

It’s not an inexpensive proposition, no matter how you look at it, but it’s a case of “pay me now, or pay me later.” My advice: call a lawyer today and get that ball rolling. (Our appointment is next week!)

Offline NotoriousAPP

  • Senior Survivalist
  • ****
  • Posts: 261
  • Karma: 10
Re: Death and Taxes
« Reply #1 on: October 11, 2012, 08:03:06 AM »
Couldn't agree more. I started my estate planning a few months ago after listening to jack's podcast on this subject.  I used an attorney named James Gade in Austn Texas: 512-810-4758.  I generated a  2 page list of questions based on Jack's estate planning show as a means to interview him.....he was able to answer every question and give me some confidence in my choice.  I world recommend him to anyone in the Austin area.