Estate Tax Planning

Our qualified will lawyers can structure living trusts, irrevocable trusts, charitable devises and bequests, and wills to maximize the transfer of assets to your beneficiaries. Thoughtful estate planning with the help of a California probate attorney can be a gift that saves your family confusion and disagreements at a time of grief.

The estate tax can take almost one-half of an estate without proper planning.This is why a tax attorney is so important. Under current law, the scheduled estate tax rates and exemptions as established on June 7, 2001 by President Bush under the Economic Growth and Tax Reconcilliation Act of 2001 are as follows:

Year Top Gift & Estate Tax Rate Gift Tax Exemption Amount Applicable Exclusion Amount GST Tax Rate GST Exemption Amount
2006 46% $1 million $2 million 46% $2 million
2007 45% $1 million $2 million 45% $2 million
2008 45% $1 million $2 million 45% $2 million
2009 45% $1 million $3.5 million 45% $3.5 million
2010 0 estate tax / 35% gift tax $1 million N/A 0 N/A
2011 and beyond 55% $1 million $1 million 55% $1 million (inflation adjusted)

An Orange County tax lawyer can help. We have extensive experience planning in this ever-changing rate and exemption environment. We can show you a range of estate tax planning techniques, from traditional planning all the way to aggressive plans that can significantly reduce the estate tax burden.

Business owners in particular should be concerned about the estate tax on the ability to keep a business within a family. A San Francisco tax lawyer can show business owning families many techniques that will allow businesses to be kept within a family.

For a prompt evaluation of your situation, we encourage you to complete our Estate Planning Questionnaire or call us toll-free at 866.494.6829 to reach a San Diego tax lawyer today.

IRS 2017 Tax Deductions

IRS Announces 2017 Inflation Adjusted Tax Benefits

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It is hard to believe that we are just two months away from the year of 2016 and as always towards the end of each calendar year the IRS announces next year’s annual inflation adjustments. You can check for more than 50 tax provisions, including the tax rate schedules, and other tax changes for tax year 2017 in Revenue Procedure 2016-55. The tax year 2017 adjustments generally are used on tax returns filed in 2018.