Elder Law  View more columns  Time to review your assets and
estate plan documents  President Obama signed legislation to
avoid the fiscal cliff that includes a permanent federal estate
tax exclusion of $5 million and a top estate tax rate of 40
percent.  You may ask: Is anything related to the government
ever permanent?  Well, permanent doesn't mean never to be
changed by future legislation. Permanent means this legislation
does not sunset as prior tax bills have after 10 years or two
years. So Congress will not address the federal estate tax
exclusion again as a result of a tax law expiring.  Should you
take any action now that the $5 million exclusion in permanent?
The answer is yes. Each and every one of us should be reviewing
our estate planning documents on an annual basis for a couple of
reasons: First, to prepare an inventory of assets so that you
know what you own, how you own it, who your beneficiaries are
and what the asset is worth.  Second, to update changes in
circumstance, such as a name change