Unavoidable Taxes? Think Again
Taxes are needed to pay for our schools and pave our roads, but that doesn’t mean you should pay more than you owe. An experienced tax planning attorney can help you limit your tax exposure and avoid excess taxes, double taxation and other types of taxes including:
- Gift tax
- Income tax
- Inheritance tax
- Estate tax
- Capital gains tax
I have been an estate planning lawyer in California for more than 30 years, and hold a Masters of the Law degree (LL.M.) in taxation. I have special computer modeling programs that help me determine likely tax rates over your life expectancy. Together, we can make smart decisions today that will effect your tax liabilities in the future.
The process begins with a detailed look at your 1040.
Santa Clara County Gift Tax Planning Lawyer
A specific monetary amount can be given as a gift to people without triggering a gift tax. An individual can give $15,000 to any other individual. For example, Grandpa can give $15,000 to each of his 8 grandchildren and his 4 children. Grandma could also give $15,000 to the same 12 individuals. Together, they could give away $360,000 per year to family members without triggering a gift tax if they chose to do so.
Whether it is advisable to give $30,000 to a 16 year old is a separate question that I would be happy to discuss with you and offer options for your consideration.
There are a number of ways to manage your estate planning process while also considering the tax consequences. Other tax planning strategies include:
- Charitable trusts to eliminate tax liability
- Trusts to reduce federal estate taxes when the children inherit the estate
- Predictive modeling to determine potential tax avoidance strategies
- Living trusts to reduce current tax liabilities
A Law Firm With Decades Of Valuable Experience
At my office, I put your needs first. As we plan your estate, I take the time to walk you through your tax burdens, talk about tax reduction and create an estate plan that preserves your wealth so that it goes to the people who matter most to you. For a first, completely free appointment, dial 408-293-0344.