>>Welcome!

Dear Friends:

This firm is committed to providing quality service to its clients. This eNewsletter is one means of providing that quality service.

We hope you enjoy this issue, with an overview on 529 Plans, long-term health care, estate planning, and year-end tax planning. We feel all our clients and acquaintances could benefit from this information. Feel free to pass this eNewsletter along to others.

If you indirectly received this e-Newsletter and would like to subscribe, please visit WHC-Law.com and enter your email address in the space provided.

Happy holidays!

Feedback and suggestions? Please e-mail me:
whc@whc-law.com

>>Time for year-end gifts to family members

It makes sense to provide year-end gifts for your children and family members, because gift giving can save federal and state death taxes.

(Click here to read the full article)

>>The 529 Plan: More than just a college savings tool

In recent years, the 529 Plan has become a very popular college savings alternative among investors. The account’s investments grow federal and typically state tax-free as long as the money is used to pay for qualified higher-education expenses, including tuition, fees, books, supplies, and room and board. And while 529 Plans should be primarily used for college planning, many do not realize they can also play an integral role in estate planning.

(Click here to read the full article)

>>Top 7 1⁄2 list: Top Reasons to Consult a Lawyer

7.	They say a lawyer who represents himself has a fool for a client, and non-lawyers who represent themselves are no less foolish.
6.	If you do it yourself, your spouse will yell at you when your mistakes are discovered.
5.	If you do it yourself, your kids will tell you, “You should have seen a lawyer”.
4 1/2.	Getting legal advice keeps me in business.
4.	Lawyers will take very good care of you and your legal problems.
3.	Having your own lawyer is very cool.
2.	Do it yourself law is about as risky as “do it yourself brain surgery”.
1.	Do it yourself and you’ll have to live with and pay for your mistakes, which could be even worse than dying from “do it yourself brain surgery”.

>>Estate Planning Should Include Advanced Directives

You shall examine the implications of living wills and medical directives to complete your estate planning. Your loved ones will appreciate your forethought if the time comes when you can no longer manage for yourself

(Click here to read the full article)

>>The Time for Year-End Tax Planning is Now

With changes in the market making year-end tax planning especially challenging this year, now is the time to start your planning.

Since your tax-planning opportunities will expire at midnight on December 31, 2005, it might help you to review a simple checklist of some investment-related tax planning actions that must be taken beforehand.

(Click here to read the full article)

>>Changes to Bankruptcy Laws: Information we hope you will never need to know

Financial crises can sometimes strike quickly and unexpectedly. In fact, a recent study by Harvard Law and Medical Schools found that almost half of those who file for bankruptcy protection do so because of medical expenses. Others may find themselves reeling from lawsuits or filing personal bankruptcy because of business losses. Each of these reasons – and several others – are certainly legitimate, albeit unfortunate, reasons to file for bankruptcy.

(Click here to read the full article)

>>U.S. Treasury Circular 230

The IRS has issued new rules that will affect how tax professionals communicate with a client. The rules, which took effect June 21, 2005 apply whenever a tax practitioner provides written advice, including e-mails, faxes, and letters, on tax issues. While the rules are motivated by the government’s well-founded concern with abusive tax shelters, these rules will apply to advice given on many common and accepted transactions.

(Click here to read the full article)

>>Quote:

"The greatest obstacle to discovery is not ignorance; it’s the illusion of knowledge”

- Daniel J. Boorstin