Top Things For Estate Planners To Do Before Tax Day 2023

Estate planners and their clients shouldn’t let those extra days go to waste. There’s a lot to do, especially now that the SECURE 2.0 Act has taken effect.

InvestmentNews caught up with Greg Matalon, partner with Capell Barnett Matalon & Schoenfeld, to get his views on what needs to be done for clients prior to Tax Day, as well as the regulatory changes that estate planners need to be aware of while preparing for the big day.

InvestmentNews: What should taxpayers and their estate planners be doing right now to prepare for Tax Day 2023?

Greg Matalon: Taxpayers should regularly review their wills and trusts to confirm that their wishes are effectively stated. It is also important to review planning documents when asset valuations, family circumstances and laws change. A taxpayer’s annual meeting with their accountant is a good time to review net worth statements, to review IRA required minimum distribution amounts, to review beneficiary designations and to plan to meet with their attorney and wealth advisors to review current estate planning laws and possible…