Estate Planning Softwares

By Yulun Hung

Estate planning software can be a smart way for people to save thousands of dollars on lawyers but it is not for everyone. Estate planning software is usually more suited for people that have estates worth less than $2 million, which is the amount federal estate tax is involved. Another recommendation is that people who have more than one marriage should not use estate planning software. Basically, if your estate plan is going to be complicated, a lawyer will be the better at handling your case. Estate planning softwares usually only cover the basics. If you think software can be right for you, here is a list of programs I got from The CPA Technology Advisor website that you can consider:

CCH Tax and Accounting - ViewPlan Advanced
"CCH Tax and Accounting’s entry into the estate planning market, ViewPlan Advanced, runs under Windows 95 or newer operating systems and requires a Pentium processor, VGA display, CD-ROM drive and a minimum of 14MB of hard disk space. I interviewed several users who were happy with the product."

BNA Software - BNA Estate & Gift Tax Planner
"The BNA Estate & Gift Tax Planner is the leader in estate tax planning, which is something we have come to expect from a recognized name and leader in all types of tax planning. This spreadsheet program is driven by solid foundations. The BNA Estate & Gift Tax Planner is a consistent application, enabling confident presentations. If you have used any other BNA program, you will immediately be ready to use the BNA Estate & Gift Tax Planner."

Thomson Fast-Tax — zCalc Tool Box Suite
"Thomson Fast-Tax offers the zCalc Tool Box Suite, a collection of analytical programs and other tools that act as an add-on to Microsoft Excel, providing additional assistance to estate planning professionals through features that enhance tax and estate planning strategies. "

Emerging Information Systems, Inc. ' NaviPlan Extended
"EISI introduced NaviPlan in 1996 and boasts a user base of more than 70,000. NaviPlan is another product in this review lineup that takes a broader approach to the planning process, including both goal-based financial planning as well as cash flow-based estate planning, which focuses on tax reduction and maximizing the amount of assets that can be passed to heirs. Since this review series features Estate Planning software, only the estate planning features will be highlighted. However, this package includes a lot more that you can learn about by reviewing the company's online information or by requesting a 30-day demo."

Sources:
http://www.cpatechnologyadvisor.com/article/article.jsp?id=731&pageNum=2
http://www.getrichslowly.org/blog/2007/10/31/a-brief-overview-of-estate-planning-software/
http://www.cpatechnologyadvisor.com/print/The-CPA-Technology-Advisor/Estate-Planning-Software-Review---2004/1$269