Advanced Estate Planning Attorney
How to Minimize Estate Tax in Orange County
Fortunately, most clients will not be subject to estate tax because estate tax is only imposed on estates valued at more than five million dollars. For those individuals who are fortunate enough to have assets that exceed the five million dollar threshold, estate tax can be a large burden to heirs. For example, an individual could own an ongoing business worth more than five million dollars, but with minimal or no liquidity. The business may have to be sold quickly to pay the tax resulting in large losses to the estate. Through the use of estate planning devices such as gifting programs, defective grantor trusts, and irrevocable life insurance trusts, the amount subject to tax can be minimized or eliminated.
Let My Education Work for You
Searching for an attorney for estate planning in Orange County? I understand how taxation works, and I have helped numerous individuals in the past to prepare their estate in such a way as to avoid probate and minimize estate tax. If you are seeking to pass your assets on to various beneficiaries then you will benefit from a comprehensive estate plan.