Estate planner for terminally ill

Hello,

A friend of mine was diagnosed with pancreatic cancer and will be transferring to City of Hope soon.  He has asked me if I know any financial or estate planner who can assist in getting his affairs in order.  I checked City of Hope web site for him and it seems that they have financial counselors, but did not find any information on estate planners who specialize in care for terminally ill patients.

Unfortunately the biopsy showed that the cancer has spread and is not operable at this time.  At best if he responds well to chemo it might be operable, but the prognosis is not good.

If anyone knows of financial or estate planners who specialize in this type of scenario, please let me know.  Thank you.

I am not an estate planner but I know enough about them that I am usually able to give some good general guidelines.  It comes down to what the estate is worth.

The good news is, the new tax bill is generous to estates.  Previously, individuals could exclude up to $5MM from estate tax, and married taxpayers could exclude roughly $10MM.  Under the new tax bill, both limits are doubled, so individuals can exclude $10MM and married taxpayers can exclude $20MM.  If your friend falls below the new limits, there should be no federal tax consequences on their passing.  But hopefully it doesn't come to that.

Prayers for your friend and their family at this usually joyous time.  I believe in miracles, and hope God will come through for your friend.

There's no special estate planning that need occur when someone is under imminent threat of death, than someone who expects to live many more decades.

Depending on the state, s/he will want a health directive (letting everyone know how s/he wants to be treated near the end - e.g. life support measures), durable power of attorney (identifying someone who will take over financial affairs if incapacitated), and a will or trust (identifying who should get what).