Estates, gifts, and inheritances are all eligible for taxation. To minimize how much your beneficiaries will have to pay in taxes after you pass away, call Stuart Green Law, PLLC, and schedule an appointment with our Katy, TX estate tax lawyer today. We understand the intricacies of estate law and can provide comprehensive wealth solutions for you.
What An Estate Tax Lawyer Does
Our estate tax lawyer helps you create a plan to support your family after you pass away. Your money, property, and investments are all included in your estate and therefore may be eligible for state or federal taxes when they are transferred to your loved ones. You worked hard for your success and we can help your family retain as much of your legacy as possible through our estate tax solution services.
Our attorney will draft an estate tax plan that ensures your assets aren’t taxed unnecessarily. Some strategies we leverage include:
- Creating trusts
- Gifting in amounts under the taxation threshold
- Valuation discounts that lower the taxable value of an asset
- Valuation freezes that prevent property taxes from increasing for a certain number of years
We listen to your concerns and your wishes for your estate. Then, we devise a plan that aligns with your vision for your family and loved ones. Our estate tax lawyer ensures all documents are compliant while minimizing the amount of taxes owed.
Benefits Of Working With An Estate Tax Lawyer
The main benefit of working with our Katy estate tax lawyer is that we create a plan to keep more of your money and assets in your family. When it comes to income and estate tax planning, having a comprehensive tax strategy is essential—especially if you have significant wealth or assets.. Our attorneys will review all of your options and guide you through the pros and cons of different types of trusts and discounts, securing the financial well-being of your family for generations.
Some benefits of creating a trust with an estate tax lawyer include:
- Tax deductions that offset distributions like administrative costs and trustee fees
- Principal funds may not be taxable if the money was taxed before going into the trust
- Investments or property belong to the trust, not the estate, limiting the inheritance tax
- All trust dealings are private and never go on public record
- Your family can avoid probate court
While having a will or other estate plan is a great financial tool, they are incomplete without a tax plan. Your family can lose a significant portion of your assets to taxes if your estate is not prepared properly. In addition, helping your family avoid probate is a valuable strategy that saves them time and court fees. When your estate goes to probate, all of your money and property goes into the public record, making your loved ones more vulnerable. By leveraging trusts, we can streamline the inheritance process after your death and keep your wealth private.
You have worked hard to provide for your family and want to give them financial security when you pass away. To give your loved ones an optimal inheritance, meet with our Katy estate tax lawyer at Stuart Green Law, PLLC. Call to set up an appointment and learn how our estate tax strategies can enhance the transfer of wealth for generations.