03/21/2023
Did you know that some of the first formal laws related to estate planning can be found in ancient Rome and England? "In 6th century Rome, the Justianian Code recognized both written and oral wills, as long as they were approved by an official. Around the same time in England, land transfers were allowed at the approval of royalty."
"The history of estate planning in the U.S. can be traced back to the Stamp Act of 1797. This was an estate tax that helped fund the Navy during a time when the U.S. had tensions with France. The tax was then repealed in 1802. The estate tax as we know it today, more or less, was reenacted a final time in 1916 to help fund World War I. Individuals started figuring out that they could bypass the estate tax by gifting their estates to family members..." Fast forward to today:
Estate planning is beneficial to nearly everyone. At Aherin, Rice and Anegon, we want to dismantle the belief that having a Trust or a Will only makes sense for wealthier or older individuals. Anyone can and should have an estate plan. It’s a powerful tool that pertains to so much more than just the transfer of property. Even having at least a basic Will in place can help protect yourself and your loved ones.
Never made a Will before? Need to revise your current Will? Contact the experts at Aherin, Rice and Anegon to schedule an estate planning consultation. We can help you regain your peace of mind.
Article: "A Brief History of Estate Planning" by Trust & Will
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