Advanced estate planning is needed for individuals with largeestates that may generate estate or inheritance taxes at the state or federal level. Advanced estate planning can protect assets and perpetuate family values for the welfare of future generations.
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Estate and inheritance taxes can be reduced by gifting assets like highly appreciated stock straight to loved ones, or a charity, or into a trust for their welfare, or gifting away interests in closely held business entities like limited liability companies or corporations. By doing so, the value of the owner’s estate is reduced. When the assets or business interests are gifted properly to the beneficiaries or into a trust directly from the owner, the assets can no longer be counted in the value of the owner’s estate and used in the computation of estate tax. An experienced legal advisor can assist you in tailoring a plan suited to your family.
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Dan DeKoter is an “AV” rated lawyer, the highest rating given by the premier peer review service as seen at lawyers.com. He has litigated multi-million dollar lawsuits for both plaintiffs and defendants. Visit his firm’s website to know more about his practice areas.
