Estate Tax Attorney Planning Transforms Legacy Protection Forever

Strategies Employed by Estate Tax Attorneys

Estate tax attorneys employ a variety of strategies tailored to individual needs and circumstances. Some common approaches include:

• Trusts: Establishing trusts can be an effective way to manage and protect assets while minimizing estate taxes. Trusts can be structured to provide income to beneficiaries while keeping the principal intact.
• Gifting: Taking advantage of the annual gift tax exclusion, which allows you to give up to $15,000 per recipient per year without incurring gift taxes², can reduce the size of your taxable estate.
• Charitable Contributions: Donations to qualified charities can not only reduce estate taxes but also support causes you care about, creating a lasting legacy.

Costs and Benefits of Hiring an Estate Tax Attorney

While hiring an estate tax attorney involves costs, the potential savings and peace of mind they provide can far outweigh these expenses. Attorney fees can vary widely based on the complexity of your estate and the services required. However, the cost is often justified by the reduction in taxes and the assurance that your estate will be managed according to your wishes.