James A.J. Revels, a partner at Citrin Cooperman, and David B. Bruckman, a managing director of Citrin Cooperman Wealth Management, write: A holistic approach to estate planning focuses on the importance of a thorough review of each client asset: how it is owned, its cost basis, when the asset will pass and to whom, how it will pass (by will or by operation of law), what taxes are attributable to such asset, who will pay the taxes, and with what money. Once these facts are determined, a proper estate plan can be implemented and achieved.
Take a Holistic Approach to Estate Planning
New York Law Journal
September 16, 2013