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Success in asset accumulation brings with it the problem of transferring assets to loved ones without significant loss due to estate and gift taxes and probate costs. |
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Proper planning can minimize loss of assets to taxes, provide for proper supervision of assets and facilitate an orderly transfer of assets to family members. |
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Strategies using current asset transfers at death can satisfy the goals of protecting family members and providing for charitable
intentions while reducing probate costs and federal taxes. |
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Wills | |||||||||||||||
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Revocable Trusts provide for disposition of assets with reduced probate costs | |||||||||||||||
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Irrevocable Trusts to provide benefits to individuals while minimizing estate and gift taxes | |||||||||||||||
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Charitable Trusts to provide benefits to individuals while minimizing estate and gift taxes | |||||||||||||||
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Gifts to family members to reduce the value of the estate subject to taxation | |||||||||||||||
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