Are you concerned about your heirs facing a large tax burden? There are a variety of taxes you may face, including gift taxes, generation-skipping taxes, capital gains taxes, and estate and inheritance taxes. While these taxes can be burdensome, with the proper planning they can be minimized, postponed or even eliminated. Our attorneys can help you meet your goals.
The tax code is filled with difficult and complicated rules. However, if you have a skilled attorney and certified public accountant helping you to decipher the code, you have the advantage of the law on your side. Our law office, John R. Ronge, Attorney at Law, provides clients with thorough legal and financial planning.
Contact a Los Angeles attorney for estate tax returns by calling us at 310-694-5152 or toll free at 888-814-0143.
Minimize Your Tax Obligation
The size of your estate at the time of your death determines the amount of money you will pay in estate taxes. If your estate is more than $1 million, it is important that you find assistance from an experienced tax planning professional. Those who understand the tax code have a distinct advantage because they know how to legally minimize the amount of taxes that they owe to the government.
Tax and Estate Planning Options
Our law firm provides legal options to assist couples, including:
- Tax planning trusts: These trusts are often used for married couples to ensure that there is no tax paid until both spouses have passed away. Our law firm will assist you in tax saving mechanisms like gifts to assist you in avoiding estate taxes.
- Gifts: One of the general rules of tax planning in the long term is that there is no tax on gifts that are under $13,000 a year. If you give a gift larger than $13,000 for the year, then you may face a tax on that gift. Couples can use this rule to protect some assets from estate taxes and save their heirs a great deal of money.
- Charitable trusts: Another option to shelter money from estate taxes is to create a charitable trust. In this trust, you receive the income earned by the principal during your life and in your death, the principal goes free of estate taxes to your chosen charity.
These are only a few of the ways our attorneys assist clients in estate and tax planning matters.
Contact Our Southern California Estate Tax Attorney
If you are searching for ways to minimize or eliminate estate taxes for your heirs, contact us online or by calling us at 310-694-5152 or toll free at 888-814-0143.
