Estate Tax Protection and Planning
Excessive Taxation Is Not A Foregone Conclusion
Uncle Sam’s Cut
You work your entire life to save and have enough money to comfortably retire – and ideally leave something for your loved ones when you pass away.
During your life you pay all kinds of taxes: income taxes, property taxes, sales taxes, and so on. And at the end, the government still wants to tax you on the assets you have left at your death.
This is known as the estate tax, sometimes called the “inheritance tax” or “death tax.”
The best way to protect your assets and your family’s future from excessive taxation is to hire an attorney who specializes in estate tax planning. We can help you reduce – if not entirely avoid – the federal estate tax burden.
How Does the Estate Tax Work?
Estate tax is totally separate from federal income tax, property tax, sales tax, and every other type of tax you’ve paid during your lifetime.
Estate tax is a tax paid on the net value of all your assets owned at your death.
However, there are fairly sizable exemptions to the estate tax so it is primarily a high net-worth individual or family who is affected.
This said, the estate tax rate is a whopping 40% on your net estate, so if you do have an estate tax problem, we are talking about potentially massive sums of money your estate will owe to the government before a single heir would enjoy a single penny.
Thank You
Thanks for your interest. I know you have a lot of options when it comes to legal planning. I look forward to meeting with you. Schedule today!
Is The Estate Tax Really Your Problem?
For people who pass away in 2022, the exemption amount will be $12.06 million (it's $11.7 million for 2021). For a married couple, that comes to a combined exemption of $24.12 million.
But, for those who are affected, there are numerous estate planning strategies available that can greatly reduce the amount owed. We can advise you on the best options for your family.
Advanced Estate Planning Strategies
Families with high-value estates face several complex legal and tax issues – estate tax is only one of them.
We offer a number of advanced estate planning strategies that are aimed primarily at reducing a family’s tax burden. In addition to minimizing or eliminating the estate tax liability, we also help you leverage the advantages of gift tax and generation-skipping tax to pass assets on for successive generations without risk of a tax liability decimating your estate at each generation.
Some of our most popular advanced estate planning tools and strategies include:
Protecting Your Estate During Your Life And After You Are Gone
You have worked hard to build your family’s wealth and legacy, so it makes sense to put similar effort into protecting those assets after you are gone.
This includes protecting your assets against excessive taxes.
At your Legacy Planning Session, we can go into detail about how you can minimize the potential tax burden faced by your family so that you can maximize the inheritance you pass on to your loved ones.
Free Report
No Time For Mistakes
Learn The Six Major Mistakes Families Make When Choosing An Estate Planning Attorney
... And How To Make A Loving Choice For Your Family
Let me help you protect the people and things you love to make sure they stay out of court and out of conflict.
Enter your name and email address so we can send it to you. We love your privacy – we will never spam you.
Professional Affiliations
stay up to date with the latest news
Copyright © 2023 Tower Law Group All Rights Reserved | Privacy Policy | Cookie Policy
LEGAL DISCLAIMER:
We appreciate your interest in Tower Law Group. Please know that our website is provided for informational purposes only. It should not be considered legal advice and visitors to our website should not take action upon this information without first discussing it with a legal professional.
Your visit to this website or transmission of information does not create an attorney-client relationship with The Tower Law Group generally, or any of its attorneys. If you wish to contact anyone at Tower Law Group please do not disclose any information that you consider to be confidential in that communication. Before an attorney-client relationship can be established, an attorney from Tower Law Group will need to confirm that the firm does not already represent another entity involved in the matter and that the firm is willing to accept representation.
The Tower Law Group will regard any information or materials you transmit as confidential only after this confirmation by the firm to you that it is willing to accept representation. Until such time, all unsolicited inquiries or information received by Tower Law Group will not be regarded as confidential, even if considered confidential by you, and will not preclude the firm from accepting representation of other entities that may be adverse to your interests.