Estate Planning

Estate planning should always include consideration of estate and inheritance taxes on the transfer of wealth to your heirs.  Most people prefer to pass their estate to loved ones, family members or charitable organizations.  We prefer to pass as little as possible to the IRS or state government in the way of taxes.

Though today’s federal estate tax laws may exempt transfers to some spouses, you want your estate to eventually pass with as little tax as possible to your children, other family members or charitable organizations.  Though the tax laws have been changing and will continue to be revised, through early planning and periodic review and adjustment, you can eliminate or reduce the potential tax burden on wealth transfers over your lifetime and after.

Depending on the size of your estate we may recommend a team with your CPA, including an attorney and financial adviser.  We can help you organize and manager your estate planning process to bring clear paths to light so you can find the right option for you and your family.

Among the considerations, we can discuss and clarify:

  •  Estate administration (Probate, Trustee, Executor)
  • Family members – things to be done when death occurs
  • Estate planning techniques and methods
    • Probate
    • Wills
    • Joint tenancy with right of survivorship
    • Tenancy in common
    • Retirement plans and IRAs
    • Life Insurance
    • Gifts
    • Payable on Death Accounts
    • Trusts
  • Special planning tools
    • Spending
    • Annual gift tax exclusion
    • Applicable exclusion amount
    • Spousal portability of unused exemption
    • Unlimited marital deduction
    • Installment payments of estate taxes
    • Private Annuities
    • Installment sale to family members
    • Self-cancelling installment notes
    • Irrevocable life insurance trust
    • Valuation of farms and businesses
    • Crummey trusts
    • Charitable remainder trusts
    • Minor trusts
    • Family limited partnerships
    • Grantor retained income trusts
    • Qualified personal residence trusts
    • Grantor retained annuity trusts
    • Grantor retained unitrusts
    • Buy-Sell Agreements

While this list is long, it only scratches the surface of the considerations involved in estate planning for large estates.  We help you get the advice you need to make good long term decisions.

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