Advanced Estate Planning

Depending on the size and scope of your estate, your family may risk losing important assets without a strategic plan in place. One of the most important aspects of advanced estate planning is to minimize the impact of taxes. Advanced estate tax planning focuses primarily on reducing taxes, specifically the three taxes most commonly imposed on the transfer of assets: the gift tax, the estate tax, and the generation-skipping transfer tax (GST). This can be done in two ways by structuring gifts so that they are non-taxable or giving assets that are taxable to non-taxable recipients. A non-taxable recipient is generally a charity or a spouse. Non-taxable assets take advantage of tax exclusions or use certain vehicles like trusts to eliminate or reduce taxes.

While everyone needs an estate plan, individuals who are looking to transfer significant wealth, either to family members or charities, often require more advanced estate and gift tax planning solutions. At Legacy & Trust Legal Counsel, PLLC we can advise you on the benefits of advanced estate and gift tax planning strategies so they can chose the right option to achieve your objectives. These advanced options often require the relinquishment of ownership and control of assets, so it is important that you are fully advised of the advantages and limitations of each solution when tailoring a plan that will meet your individual needs and objectives. Our firm is dedicated to helping clients make educated, informed decisions about their assets and will work with you and your team of advisors to implement a highly sophisticated and effective estate plan that allows for the maximum transfer of assets to your loved ones.

Estate planning can be a complex maze of options and outcomes, but at Legacy & Trust Legal Counsel, PLLC we simplify the process by working side-by-side with our clients and their other advisors to create an estate plan that meets specific financial, security and legacy goals. We help individuals, families, business owners and fiduciaries navigate the constantly changing tax code and legal options available to generate, preserve, and transfer wealth through effective estate planning. You have worked hard to provide for your family and make your loved ones future more secure. Without advanced estate planning strategies, much of the significant assets you have accumulated may be lost to taxes. At Legacy & Trust Legal Counsel, PLLC we take the time to get to know you, understand your needs, your goals and objectives. Our attorney will devote the time and expert knowledge to guide you to create a legal plan that fits you. We will utilize proven advanced estate tax planning strategies to protect your estate and legacy. If you have questions about advanced estate tax planning, do not hesitate to contact Legacy & Trust Legal Counsel, PLLC today.