Estate Trust Tax Planning
Estate and trust planning is complicated, and there are many federal and state tax laws regarding estates. Knowing that your family, the charitable causes you support and your beneficiaries receive their intended inheritance with a minimum of estate tax liability takes pre-planning.
Working with an estate attorney, basic estate planning usually includes a provision assigning a power of attorney to a designated person or representative, creating a will, and a living trust. Tax planning and understanding the federal and state tax laws regarding estates is vital. Ensuring your family understands how to proceed with your estate and trust is an important aspect to avoid stress, confusion, and disputes.
Assets You Own Or Control Are A Part Of Your Taxable Estate
A person’s taxable estate is the net value of everything that a person owns’, controls, and in some cases, has gifted before death minus what a person owes and some of the costs of settling an estate.
Our Estate and Tax Planning Services
A well planned and developed estate and trust strategy can help you plan in ways that benefit you in your lifetime, as well as for generations to come and for the causes that you support. We help our clients successfully manage their current estates and facilitate the transfer of family wealth by:
- Analyzing the current estate plan to determine future income and estate tax consequences
- Preparing complex estate, gift and trust tax returns, and providing estate administration if needed
- Working with your estate attorney in establishing family trust and investment partnerships to facilitate transfer of assets to the next generation
- Planning for the succession of a closely held business to the next generation, to employees or an outside party
Our Estate and Tax Planning Process
Successful estate planning requires a thorough understanding of your goals, objectives, and motivations. We visit with each client at the onset of our relationship, and again at each milestone in your financial life. During these meetings, we listen to your goals and needs, and then we work with you to build your tax, estate, financial planning and wealth management roadmap.
Call Today For Complete and Confidential Estate and Tax Planning Services
The best way to avoid estate and tax liability consequences for your family or designated beneficiaries is to accurately pre-plan your estate and trust needs. James M. Wesolowski, CPA, P.A. has successfully provided estate and tax planning services in the Southwest Florida area for many years. Protect your financial legacy and your dependents estate liabilities by calling us today at (239) 574-4449.