We have the expertise to assist you with all your estate planning needs and concerns. Estate planning need not be cumbersome or overly complicated. The objective for most people is usually the same: transferring wealth from one generation to the next at the least possible cost. We can help you avoid or minimize the impact of high estate taxes and offer suggestions for reducing the costs of probate.

          Estate planning is a lifetime process that is usually most effective when it begins early in life. At a minimum, we encourage you and, if married, your spouse to execute the basic estate documents necessary to protect your family:

          Take a few moments to download and complete our estate planning questionnaire. Although the document by necessity requests a lot of information, please provide what you can now and return it to us by fax or by mail. We will contact you immediately to start the process.

Estate Planning Tips

Gifting

The objective of gifting is to decrease the size of your taxable estate. You can give away $11,000 per year per recipient without reducing your lifetime exclusion. (adjusted annually for inflation.). A married couple can transfer up to $22,000 per year to each of their children. If your child is married an additional $22,000 can be given to the spouse (and each grandchild). Gifts can be made in trust, through an educational IRA or Section 529 Plan or outright.

Spousal Transfer

You can make unlimited transfers to your spouse during your lifetime or through your estate without reducing your lifetime exclusion. Leaving everything to your spouse may not be a good idea, since doing so fails to utilize the allowable exclusion amount in the estate of the first spouse to die. Planning will allow you to use the exclusion in both estates, and you'll be able to transfer twice as much to your heirs free of estate tax.

Life Insurance Proceeds

Proper use of an Irrevocable Life Insurance Trust can eliminate life insurance proceeds from your taxable estate while at the same time providing cash to pay creditors and tax obligations.