Be a King, not a Prince when planning estate taxes

May 17, 2016 Written by

As the old saying goes, there are only a few things certain in life; death and taxes.  In the US, citizens are taxed on assets as of the date of death that exceed the Federal Unified Credit. In 2015 that credit was $5,430,000. It may seem like quite a lot but this number can add up quickly especially when taking into account real estate, businesses owned  and life insurance held. The tax rate ranges from a low of 18% to 40% of a person’s taxable estate.  That’s why it’s very important to consider estate planning  now, in spite of the fact that this subject is difficult at best, to deal with as nobody likes to think about dying.

Whether it’s periodic gifting,  life insurance transfers,  to trusts or any other strategy or combination of strategies, we can help you plan for the future in order to reduce the tax impact of your estate. Feel free to call the office for further information.



Written by: Doug Rodrigues