Estate & Legacy Planning
Rich was recently quoted in a New York Times article about the pros and cons of "Do it yourself" estate planning software vs. hiring an experienced estate planning attorney to create a estate plan. "Sometimes the role of the estate planner is to play devil's advocate and push back," Mr. Behrendt said. "Often, if you prod clients and ask the right questions, they say, 'Ah, I hadn't thought of that.' You can't get there just doing it in a software program."
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Rich was also quoted in an Investment News article regarding common estate planning mistakes to avoid. Here's what Rich had to say about the dangers of leaving too much too soon to younger beneficiaries. "Young adults who inherit wealth often lack the judgment to make responsible decisions with their inheritance," according to Mr. Behrendt. "The danger zone is often for those in their late teens and twenties." Parents should create a trust controlled by a trusted family member or a corporate trust company until beneficiaries reach a mature age, perhaps 30 or 35 years old, he said.
Articles and Presentations:
Protecting Aging Clients From Elder Financial Abuse, Financial Advisor Magazine, January 18, 2017
Golden Age of Estate Planning, Wealth Management.com, June 7, 2013
Life Insurance; An Alternative to Roth Conversions? (with Blake Panosh), Wealth Management.com, June 16, 2010
Estate Tax Still a Muddle for Advisors, Wealth Management.com, February 24, 2010
Age of Uncertainty, Wealth Management.com, November 1, 2009
The Audit Rate is Skyrocketing, Trusts & Estates, February 2009
Practical Wealth Transfer Planning, Journal of Practical Estate Planning, Summer 2009
Is FLP Planning Still Viable?, (seminar) various dates and forums for continuing education for attorneys and accountants
Practical Wealth Transfer Planning – Through the Eyes of a Former IRS Attorney, (seminar) various dates and forums for continuing education for attorneys and accountants
Preserving Family Wealth, (seminar) various dates and forums for clients