Estate Tax Planning Attorney in Plano, TX
Estate Planning Attorney John F. Williams, Jr. Recommends Planning for Future Estate Taxation
The Law Offices of John F. Williams, Jr. have worked with many clients whose estates have needed advanced planning to avoid estate taxes. Estate Tax Planning is very important for the preservation of your wealth for future generations. Knowing your potential estate tax liability is a great place to start your estate tax plan. The rules passed into law as part of the “Tax Hike Prevention Act of 2010” reduced the maximum estate tax to 35% and the first $5,000,000 of your estate is free from taxation. The new estate tax expires at the end of 2012 and if congress doesn’t act, the law reverts back to rules established in 2001.
Now you may think you will not have an estate tax problem in the coming years, and if so, I recommend you consider all the potential assets you have.
Countable Assets
- Investments
- Cash
- Real Estate
- Vehicles
- Personal Property
- Fractional Interest Property
- Life Insurance Proceeds from Policies Owned
- Life Insurance Paid to the Estate
- Future Inheritances
- Retirement Assets
- Business Interests
Do future estate taxes really have you worried?
Not everyone has to worry about paying federal estate taxes today. The reality is that we do not know what 2012 will bring. So I believe in taking preventative measures to ensure that no matter what happens, I have anticipated both negative and positive outcomes for my clients.
To alleviate any downside to estate taxation, I employ a combination of legal tools that prevent your heirs from getting a huge tax bill in the future. We can use the Living Trust, Life Insurance Irrevocable Trust, Charitable Remainder Trust, Gifting, Family Limited Partnerships and other planning depending on your individual needs.
At the initial consultation we will discus these issues and others. Then I can craft a personalized estate plan that utilizes all the necessary tools and laws. We protect you and your estate when it is needed most.
Our law firm can help you determine the best approach to your estate tax planning needs. We can help you navigate through the ever changing and confusing laws to see that your wishes are carried out.
Whether through wills, living trusts, irrevocable life insurance trust or family limited partnerships, we will help you set up an estate plan that does what you want, when you want it. Call us today for your Free Consultation. The Law Offices of John F. Williams, Jr. are here to help with planning the continuation of your success to future generations.