Tag: gift tax
How Gift Taxes May Affect Your Estate Planning Strategies
Posted on May 3, 2024
For people with a high net worth, the estate planning process may involve a variety of complex concerns. It will be important to take steps to protect one’s assets and ensure that as much wealth as possible can be transferred to future generations or used to support charitable causes. One of the most important aspects of asset protection will involve minimizing the taxes that apply when an estate is transferred. Gift taxes and gift tax exclusions are a crucial factor in a high-net-worth estate plan. An experienced attorney can provide […]
5 Tax Planning Strategies to Help Protect and Preserve Wealth
Posted on January 12, 2024
When it comes to building and maintaining wealth, effective tax planning is a crucial component of an asset protection strategy. By taking advantage of various tax strategies, you can minimize your tax liabilities while preserving and protecting your hard-earned assets and ensuring that they can be passed on to future generations. An attorney who understands the best estate planning tools for high-net-worth families can provide guidance on the best strategies to use. These strategies may include: 1. Utilize Tax-Advantaged Accounts Certain types of accounts can be used to minimize the […]
Report: Wealthy Americans Are Changing Their Estate Plans Over Concerns of Tax Increases
Posted on October 15, 2020
A few weeks ago, a post on this blog discussed former Vice President Joe Biden’s plans regarding the United States Tax Code if he were to be elected president in this year’s general election. Of course, with every new presidential administration comes certain changes to the nation’s tax policies. With this in mind, Mr. Biden’s campaign maintains that his policies would not raise taxes on anyone making less than $400,000 per year. But, what about those who make over $400,00 per year? In short, they stand to be the most […]
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