Estate Taxes are the most unfair tax levied on US citizens. Most of us work our entire lives to create an estate. If the estate is larger than a certain dollar amount at our deaths, Uncle Sam imposes taxes at a rate of nearly 50%. By taking the time to plan your estate, we can make sure that your assets go to the proper heirs with the least amount of taxes.
Estate Planning can:
- Provide peace of mind.
- Allow for the transfer of wealth to whom you want, when you want, at the lowest possible cost.
- Allow loved ones to make decisions on your behalf.
- Reduce the tax burden that may be imposed on your heirs.
- Allow you to leave a legacy.
Common estate planning issues that we address are:
- Wealth Transfer – Planning that involves the smooth transition and distribution of wealth according to your wishes.
- Estate Tax Reduction – If you give away wealth, during life or at death, you may incur federal and state taxes. We can help protect the assets you transfer from excessive depletion by understanding these taxes and the various strategies you can use to minimize them.
- Beneficiary Updates – By regularly reviewing your named beneficiaries on IRAs, retirement plans and life insurance you can ensure your assets are transitioned to the proper individual with the least taxes.
- Asset Protection – Identifies potential risk exposure and then identifies preventive tools and strategies to reduce that exposure.
- Charitable Planning – Utilize high net worth tools to transition wealth to charities. This may include Charitable Remainder Trusts, Charitable Lead Trusts and Wealth Replacement Trusts