On January 5, 2010, I provided a link to a sample client letter found on InterActive Legal. See Sample letter from Jonathan Blattmachr. Here are links to two more:
- Derek W. Jensen, Client Letter on Estate Tax Planning in 2010, Jensen Law Office, Jan. 22, 2010.
- Charles Rubin, Estate Tax Repeal and Your Estate Planning Documents, Rubin on Tax, Feb. 14, 2010.
All of the letters educate clients about the current law and uncertainties surrounding the law. Then, they invite clients to have their estate plans reviewed.
The letter from Interactive Legal sprinkles the invitation to the client throughout the letter:
However, a change in the tax law that has just become effective and will last only for this year suggests that it may be appropriate for you come in and visit us to see if your documents should be modified. . . .
It may be appropriate for your documents to be revised in order to take into account the possibility of carry over basis.
Therefore, we think it is important for you to consider coming in and discussing these matter with us.
Jensen’s invitation comes at the end of the letter. I like how it emphasizes the novelty of the current situation and the expertise of Jensen’s firm:
What Should You Do?
We encourage you to meet with us as soon as possible to review your estate plan and make any changes that are necessary for this law. We need now to ensure that your property is positioned to receive the maximum step-up in basis increase available under current law. This is a time that demands a new approach to your planning with new thinking and building in flexibility to see that your wishes are fulfilled no matter what Congress will throw at us this year or next. We have solutions that will meet you planning objectives with the least amount of tax impact.
Unlike the previous, Rubin’s letter also discusses state estate tax exposure. It invites clients for a review after indicating that most estate plans will not need to be corrected:
Most situations will probably not need any corrective action. Further, if the testator survives until 2011 when the estate tax is restored, the 2010 issues go away on December 31, 2010.
Nonetheless, it is usually a good idea to have your estate planning documents reviewed each year for changes in the law, family situations, assets, business circumstances, and other changed facts. Most firms, like our firm, do not undertake a continued client relationship that includes a duty to advise clients of changes in the law that affect their situation, given the impossibility of that task due to the volume of documents, changes in lawyer personnel, and regular changes in the law.
Therefore, we recommend that you give consideration to having your documents reviewed by your estate planning professionals, both for 2010 issues and for an overall review of your situation.
So, there are a number of ways to convey the same message: clients should have their estate planning documents reviewed. Note that this approach has received support in popular media. See WSJ article promotes review of estate plans (2/11/10). But not everyone agrees. Some are advocating taking a wait-and-see approach. See NYT: planning is difficult when rules are uncertain (2/13/10).
The link mentioned above have the lot of information about all the formats!!they mentioned the sample client letters which are very much useful!!
sample letters: http://www.sampleletters.in/
Posted by: Julie Anderson | 09/23/2012 at 08:49 AM