Personal Tax Planning: Reviewing a Will—Tax Considerations for Non-Legal Advisers

Abstract

A will is a critical part of an estate plan. A tax adviser must frequently review a client's will as part of the estate-planning process. To review a will confidently, the tax adviser should have an understanding of the standard provisions of a will and thus be able to comment on the tax implications of the document. The objective of this article is to provide comments on the broad structure of a standard will and the tax issues to be considered and addressed as part of a will review, from the perspective of a tax adviser without legal training.