Do you need to worry about estate taxes? Should you consider an “estate freeze?” Is it better to make lifetime gifts or to pass your assets to loved ones upon your death? Will your life insurance proceeds count toward your taxable estate? Will your loved ones have to sell your business or other assets in order to pay estate taxes? Which assets should pass directly to your beneficiaries and which should be distributed through a trust?
Because estate tax laws, including exemption limits, can and do change, we try to include certain basic estate tax provisions in every plan we create, such as disclaimer trust options and lifetime gifting powers for successor trustees and agents. Moreover, depending on your goals and the size and sophistication of your estate, we can go beyond these strategies in an effort to protect your assets from unnecessary taxes. Some of our additional tax planning tools include A-B trusts, qualified terminable interest property trusts (QTIPs), qualified personal residence trusts (QPRTs), irrevocable life insurance trusts (ILITs), intentionally defective grantor trusts (IDGTs) and family limited liability companies.
Let us help you avoid unnecessary taxes in transferring your legacy to the ones you love.
Other areas of practice include:
- Estate Planning
- Asset Protection
- Business Structuring
- Trust Funding
- Estate Administration
- Trust Administration
- Probate Services
- Disputes & Litigation
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