This week, Warner partner Mark Harder, chair of the Private Client and Family Office Practice Group, presented an estate planning update at the 2020 FOX Family Office Forum.
This annual 3-day program for family office executives and professional advisors offers presentations and peer discussions on topics relevant to the current challenges family office leaders are facing. The forum, hosted by the Family Office Exchange, was held virtually this year rather than in person, but the format did not impact the usefulness of the content and peer discussions.
Mark and Jamie Sanders of the international accounting firm RSM US LLP co-presented on “Top 10 things to consider before year end.” During their presentation they offered the following planning suggestions for family members and their advisors to consider and discuss.
During his presentation, Mark challenged attendees to work with family members to “Think carefully, and plan intentionally, creatively, and flexibly.” Mark also noted that the election driven, year-end planning occurring now is good estate planning that in most cases should be done regardless of how the election turns out. He also noted that despite the uncertainty about future tax policy due to the upcoming election, now is the right time for family offices and advisors to help families think deeply about what their estate and tax planning should look like and make the needed changes.