Estate PlanningMaking sure your loved ones--rather than the government--keep what you spent a lifetime earning
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Estate PlanningMaking sure your loved ones--rather than the government--keep what you spent a lifetime earning
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Estate planning includes at least two major components: (1) taxes (both federal and state estate and gift taxes) and (2) the mechanism to make sure that those intended to receive family wealth actually receive it and keep it. Do not be fooled by recent legislative developments out of Washington. To be sure, those with assets under $5 million have less concern with federal estate tax but the state estate tax still exacts a potentially high cost that needs to be addressed. Little has changed for those with assets substantially above $10 million. Those in the middle have great opportunities to save relatively large sums. But what happens in future years? Flaster Greenberg PC can help you take the prudent planning that calls for aggressive steps now to lock in today's favorable laws as much as possible and not rely on the whims of Congress. And everyone needs to be aware that they need to plan defensively against those (such as ex-spouses at all generations and judgment creditors) who have ways to wrest those assets away from intended family members.
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See also: Income Tax Planning, Asset Protection Planning and Life Insurance Planning.
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David S. Neufeld, Shareholder, Flaster Greenberg PC
1810 Chapel Avenue West | Cherry Hill, NJ 08002 856.382.2257 | david.neufeld@flastergreenberg.com Internationally Recognized Tax and Estate Planning Attorney |