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My Dad used to like to say that he was going to spend his last dollar on the last day of his life.  It was a fairly ambitious goal that reflected his desire to get the most out of life and enjoy the fruits of his lifetime of labor.  Alas, it wasn’t to be.  He died of an aneurism before he was even able to fully retire.  That was the bad news. The good news was that he left my Mom in very good financial shape, so she doesn’t have to worry about money (although she still does).

Working hard, saving smart and good estate planning helped my Dad to at least partially reach his goal of security in his later years, even if it was only for his wife.  Not unlike Warren Buffet, my father wanted his children to make their own way, earn their own financial security and not rely on some largesse that may or may not come from Daddy.  Hand in hand with that view was the money he earned belonged to him.  He earned it.  He sacrificed to save it, so why should the government take ANY of it?  The government didn’t earn it, he did.

All of this brings me to the point of this post.  An article in Saturday’s Wall Street Journal highlighted the importance as well as the changing nature of estate planning.  The central message of the article is that not only is estate planning crucial to avoiding estate taxes upon your death, but managing your income tax obligations while you are still alive is crucial for preserving your wealth and should be a part of every comprehensive estate plan.  Anyone with a television or an internet connection can tell you that who should be taxed and how much is a hot political topic and the trend is heading higher on both counts.  While higher taxes and newer ways for the government to put its hand into your pocket are the bad news, the good news is that there are a number of tools and strategies that you can employ to structure your financial security and legacy as you see fit.

Each individual and family is different and each requires an attorney who will listen to their wishes, and develop a customized plan that’s right for them.  At Tiboni and Tiboni, we’ll take the time to get to know you, understand your wishes and work with you to create the right plan for you.  IT’S YOUR MONEY!!  YOU worked hard, sacrificed and saved to get where you are financially.  YOU should decide where your hard-earned money goes when your time is up, not some Uncle Sam that lives in Washington, or some other creepy uncle in Trenton or Albany just waiting to get their hands on your cash.

My Dad ran out of time to see the fulfillment of his plan, but he had a plan and that plan is providing for my Mom to this day.  She will never have to worry about financial security.  Give us a call and let us help you to make your plan today!

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Win Win is based on the story by Tom McCarthy and Joe Tiboni. When a disheartened attorney moonlighting as a high school wrestling coach stumbles across a star athlete, things seem to be looking up. That is, until the boy's mother shows up fresh from rehab and flat broke, threatening to derail everything. Cast: Paul Giamatti, Amy Ryan, Bobby Cannavale, Jeffrey Tambor.
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Tiboni & Tiboni, LLP
166 South Street
New Providence, NJ 07974
Ph: 908-286-1136
Fax: 908-286-1605