Estate Tax Planning

Estate Tax Planning

Taxes are a fact of life, and a fact of death. With effective planning, you can minimize the tax that would otherwise be paid at death. You can also make sure that the plan you intended will not be altered because of death facts of which you were not aware.

Many of the assets you’ve accumulated will be taxed in the year of your death – as much as half your total assets could be lost to tax. That’s not what you’ve worked for, and it’s not the legacy you want to leave behind. Some other obstacles you’ll want to avoid are:

  • A lack of liquidity that could result in your business stopping at the first generation
  • A forced sale of assets
  • A loss of family control of assets
  • Limited choices
  • An alteration of your planned transfer of assets, resulting in an inequitable allocation
  • A disruption in the smooth execution of you plan

There are many steps you can take now to reduce or defer taxes at that future time. The steps themselves and the combination of them will be as individual as your life and your estate.

A list of your assets and their current value is a place to start. Trust, estate freezes, business ownership structures, and insurance are some of the tools we can use to help you achieve your goals.

To get started, Contact Us today for a free initial discussion to determine whether these tax saving tools are suitable for you.