Indianapolis Partner Kent Broach Talks to The Indiana Lawyer About Estate Planning in Uncertain Economic Times
Indianapolis private client and family wealth planning partner Kent Broach was recently quoted in The Indiana Lawyer about having flexibility in estate planning documents in a market downturn. An excerpt is below:
At Dinsmore & Shohl, partner Kent Broach is also not receiving any panicked calls from clients, but their uncertainty is prompting him to draft flexibility into estate planning documents.
Clients see the opportunity of gifting now when asset values are “just getting beaten down,” Broach said. In time, the economy will reverse and the value will grow, so transferring the wealth will remove that appreciation from their taxable estates.
Broach educates his clients about the different financial tools available and how those tools work, sometimes keeping flowcharts handy as visual aids. He is having conversations and counseling them, but when the estate papers are ready to be signed, they are hesitating.
“A lot of times, I’ll meet with clients and we’ll go through some planning options and then they just won’t do anything,” Broach said. “It’s easy to hide from this and not want to think about it. It happens quite often.”
Read the entire article here.