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.