Will my estate be subject to any taxes, and if so, what types of tax?
Everything that you own in your name is included in your estate for estate tax. Additionally, property you exercise substantial dominion and control over will also be included. Quite surprisingly, even income tax exempt assets are included. This is an important issue that requires consulting a professional. The estate tax threshold is always changing so there is little certainty in this arena. The rates have been in the 50%+ rate area. Given the impact and how avoidable it is, one should think of an estate planning attorney as an investment.. What you can do is plan while there is certainty. You can also take advantage of the flexibility that planning tools provide so your plan adapts with the changes. “Planning with Purpose,” Haimo Law (HaimoLaw.com) can help you plan for and protect your family and your business’s interests for the immediate and long-term future. Together, we can take advantage of incredible tools and techniques that are available to you right now. Call us for wills, trusts, probate, asset protection and business planning. Haimo Law offers premium professional representation at an affordable price. Alternative fee arrangements are available upon request. We are reliable, approachable, honest, hard-working and attentive. Helping your family and business is our priority. We look forward to meeting and exceeding your expectations.
Barry E. Haimo, Esq.
Strategic Planning With Purpose
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