7707 Sunset Blvd.
Los Angeles, Ca 90049
Estate and Gift Planning
A little planning can save thousands of dollars!
You can't take it with you, but failing to plan for your estate can mean that the government, rather than your heirs, may get the major portion of your hard-earned money.
Over the coming years, the Tax Relief Act of 2001 gradually reduces estate and gift tax rates, and the exemption amount increases. The estate tax will be repealed in 2010, but the gift tax will be retained. Ironically, the estate tax will be reinstated in 2011 to pre-2001 Tax Act rules unless Congress acts to extend the 2001 law. In the midst of these phase-in and phase-out provisions, a little planning can save thousands of dollars.
You may be surprised what your estate is worth. Add up the value of all your assets. Don't forget life insurance which may fall into your estate. If your total value exceeds the exemption amount, you should look into what a few simple planning techniques can save your family at estate time. In addition, there are some very effective estate planning ideas that can also cut your current income tax bill.
Some planning possibilities:
For assistance with your estate planning, contact us.