Putting together an estate plan is an obstacle for many families. First, you may not know where to begin. Second, you may not know where to go once you start; and, third, you're afraid of making mistakes that could affect lifelong assets and valuable property. All of these concerns are valid, and estate planning attorneys are available to address them with you and your family.
Most people have a disconnect between thinking about their later years and actually taking action, especially when it comes to estate planning and health care directives. Maybe it's a fear of mortality and maybe it's uncertainty about medical treatments. Regardless of the reason, the fact is that most Americans don't have a defined plan to get them through their end of life years.
President Trump has proposed tax policy change that has the potential to make home ownership less attractive for many Americans. The proposal would increase the standard income tax deduction to a point where only the wealthiest Americans would benefit by taking itemized deductions instead.