Trust and Estate Taxation
Estates, Gifts, and Trusts
Careful consideration of your family, values, and priorities are important for your estate, gifting, and trust plans. It’s critical that you have the peace of mind knowing your wishes are followed and implemented. Changing tax laws can have an unintended effect on your wishes, so it’s important to have someone who understands what you want to accomplish.
A critical component of your strategy is to select an attorney who is familiar with trusts. We have excellent legal resources available or, if you prefer, we will work with your attorney. We will implement strategies to:
- Define your personal goals for the estate, gift or trust
- Maximize gifting strategies to lower income taxes
- Minimize estate and other income tax liabilities
- Often state taxation varies from federal taxation-knowing the differences is critical
- Establish effective transfers of assets to your trust
- Optimize tax elections
- How the Alternative Minimum Tax affects your strategy
- Determining if alternate valuation dates should be used
- Provide a valuation of assets
For more information, please contact the experts at David Mills CPA today!