Estate, Gift and GST Tax Planning
The current Federal estate tax exemption amount is $5,340,000 and the top Federal estate tax rate is 40%. The failure to plan for taxes can cause financial hardship and limit a family’s ability to transfer wealth to the next generation. However, there are several planning techniques that can be utilized to limit a family’s exposure to Federal transfer taxes. The Estate Planning Firm has a great deal of experience with lifetime giving, Credit Shelter and Marital Trusts, Irrevocable Life Insurance Trusts, Family Limited Partnership Sales to Grantor Trusts, Grantor Retained Annuity Trusts, Qualified Personal Residence Trusts, Charitable Trusts, Dynasty Trusts and GST tax planning. There is no one size fits all approach to tax planning.