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Basic Estate Planning

What age should I start planning?

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Basic Estate Planning

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William A. Conway, J.D., in a professional career as a tax attorney, investment banker, and legal educator, serves his clients with both financial and legal counsel. A graduate of Georgetown University Law Center, he is a registered investment advisor and tax attorney included in both Who's Who in Finance and Industry and Who's Who in American Law. Mr. Conway is also a member of the bars of the Commonwealth of Virginia, District of Columbia, and the State of Maryland.

His practice is dedicated to building wealth enhancement strategies for his client families' estates and businesses, using far-reaching, advanced planning to achieve preserved wealth for generations. The firm's priority is our relationship with our client families and their personal, professional and estate goals.

Mr. Conway was an Adjunct Professor of tax law at George Mason University School of Law, where he taught law for five years and has lectured at Georgetown University Law Center. He annually teaches continuing education courses on estate planning and wealth preservation for attorneys, financial planners, and accountants.

A founding member of WealthCounsel, LLC , he serves as chairman of the Legacy Consulting Group and is a member of the National Academy of Elder Care Law Attorneys. In addition, Mr. Conway serves on the Greater McLean Chamber of Commerce and is President of the McLean Symphony, McLean, Virginia.

Invited for guest appearances on television programs such as "The Money Makers" on PBS, Mr. Conway also created and hosted the radio series, "Legacy," for many years on Washington Business Radio. You may now hear him on his new show, "Family Fortunes" on WTNT 570 AM Radio in the Washington Metro area each Saturday morning.

Generations, an updated companion book to the original "Legacy" radio show, is a 500+ page, hard-backed book, indexed by subject, and includes every aspect of estate planning.

What age should I start planning?

In this video series, William Conway explains the basics of estate planning.

This series: 35,554 views

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Host: What age should I start planning?

William Conway: Well, most of the problems of planning are not age related. If anybody has assets at all, occasionally people have assets who are given to them by parents, who are given to them by grandparents in the form of accounts that were set aside when they were small. Sometimes, these accounts become worth tens of thousands, perhaps even hundreds of thousands that always when the people are still rather youthful. Savings, investment, purchase of real estate, all those assets still have as bigger problem in the circumstance of a disability or incapacity of a 20 year old, as they do in the circumstance of the disability or incapacity of a 52 year old or an 85 year old.

So, the planning aspects of what one should do, the nature and the importance of that doesn t change. Of course, many youthful persons of course, will marry and have children. All the issues that we have talked about are not age related, they are all related to the ownership and transfer of property to the people we would like to transfer to and for the protection and use of the people to whom we want it transferred to. It s really all again and once about, giving what I have to whom I want, the way I want, how I want with the least amount of fees and taxes. So, even though there may not be some of the issues that are out there, the issues of disability, the issues of incapacity, the issues of transfer of assets on death and control by the family, the way they want assets control, the issues of accidental disinheritance, the issues of other youthful people perhaps children of now, these relatively young people then themselves becoming older and receiving assets at ages that might be considered inappropriate. All those assets and all those issues are just as important for a younger person as they are for older people.

Basic Estate Planning

What age should I start planning?

Law Offices of William Conway

703-448-7575

bill@conway.org