Tax Planning
About Tax Planning
Navigating estate taxes can be complicated, but with the right guidance, it becomes a confident step toward financial security for your loved ones. Our team provides personalized strategies that clarify the tax landscape and identify ways to lower your estate’s tax burden.
By taking proactive measures, such as tax-advantaged accounts, we help preserve and grow your legacy. Let us work with you to develop a thoughtful estate plan that reflects your values and protects your family’s financial future.
Strategic Lifetime Gifting
Establishment of Trusts
Leveraging Marital Deduction
Family Limited Partnerships (FLPs) and Limited Liability Companies (LLCs)
Strategic Lifetime Gifting
We can advise clients to make use of annual gift tax exclusions to transfer wealth during their lifetimes, which reduces the size of the taxable estate without incurring gift tax liability.
Establishment of Trusts
We create irrevocable trusts to remove assets from the taxable estate, provide management over how assets are distributed, and, in some cases, deliver substantial tax savings upon transfer to heirs.
Leveraging Marital Deduction
We assist clients in understanding the marital deduction and prepare trusts that qualify for the deduction for purposes of minimizing estate tax liability.
Family Limited Partnerships (FLPs) and Limited Liability Companies (LLCs)
We create FLPs and LLCs to allow clients to gift interests in family businesses or property which allows valuation discounts further reducing taxable estate values while maintaining management control.
Throughout this process, the attorney collaborates with the client and often their financial/tax advisors to ensure strategies are properly tailored to the client’s specific family, financial, and philanthropic objectives, and compliant with current federal and state law.
