Time is Ticking for Deathbed Tax Planning: An Analysis of its Effectiveness

This Article will address what constitutes deathbed planning in light of recent court decisions, such as Estate of Powell. Additionally, it will provide the reader with the estate planning steps one might want to follow at the end of his or her life, had the person not previously planned for the future of his or her heirs. The following is an insight into deathbed tax planning and what the process entails.