Everything that you own in your name is included in your estate for estate tax. Additionally, property you exercise substantial dominion and control over will also be included. Quite surprisingly, even income tax exempt assets are included. This is an important issue that requires consulting a professional. The estate tax threshold is always changing so there is little certainty in this arena. The rates have been in the 50%+ rate area. Given how avoidable and financially devastating it can be to be unprepared, one should think of an estate planning attorney as an investment..
What you can do is plan while there is certainty. You can also take advantage of the flexibility that planning tools provide so your plan adapts with the changes.
-Why-
Each interaction with a client presents a unique opportunity for us to prove our devotion to customer service and commitment to helping families and businesses achieve their goals.
-How-
We understand complicated family and business dynamics and exhibit an empathetic bedside manner. Our team approach prioritizes relationships, capitalizes on innovation, leverages technology and focuses on fundamentals. The result is a distinct and refreshing experience that is redefining estate and business planning.
-What-
We work with accountants and financial planners to help families and businesses get organized, protect and preserve assets for generations and leave behind a legacy they can be proud of. Practicing exclusively in the area of estate and business planning, Haimo Law is a boutique law firm that represents clients in preparing wills and trusts, administering estates, addressing business issues and creating asset protection plans and structures.
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By: Haimo LawTV
Title: When does estate planning involve tax planning? [Plantation Estate Planning Law Firm - Haimo Law]
Sourced From: www.youtube.com/watch?v=HnBPvN1aKgc
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