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- Trusts and Estates
Trusts and Estates
With today’s ever-changing tax laws, estate planning can maximize savings and preserve the assets our clients worked so hard to build and maintain.
Our trusted CPAs spend time with clients to gain an understanding of their goals, then assist in developing an individual strategy designed to meet their needs and minimize tax consequences. Whether it’s providing for future generations or funding a favorite charity, we can assist in establishing safeguards to preserve well-earned assets, providing for continued income, and preparing for all the changes life can bring.
Is it better to choose a family member, non-family member or a bank as the trustee? If you choose a family member, how much power should he or she have over siblings, children and others? What happens at the termination of the trust? Our experienced advisors can walk you through these uncertainties, explore all of your options and help you make the right decisions for you and your family.
Charitable remainder trusts
If you wish to leave a legacy we can help you establish a trust that will provide income to you for the rest of your life and allow you to leave specific assets to the charity of your choice.
Tax planning and return preparation
Proper planning can significantly reduce estate tax burdens for many individuals, and planning strategies often include establishing a trust. In addition to tax planning we prepare annual tax filings to ensure compliance with federal and state regulations.
Surrogate accounting preparation
When a trustee resigns or passes away we provide accounting for the beneficiaries of all funds that went in or out of the trust.
Family limited partnerships
We have assisted in establishing more than 50 family limited partnerships for clients throughout our community, helping clients reduce taxes and protect assets.
Tuesday, September 25, 2018
One complex estate tax case involved three separate rulings by the U.S. Tax Court. The case involved three split-dollar insurance agreements within one family. The court determined that the case revolved around a question of value and that the proper valuation of the estate's interest was the cash … more
Friday, September 21, 2018
Many people ignore estate planning because the federal rules keep changing and they don't think they have enough assets to be concerned about it, but there's one critical estate planning step you should take right now.
Thursday, March 29, 2018
The IRS recently announced that in many cases, taxpayers can continue to deduct interest paid on home equity loans, issued because there were questions and concerns related to tax reform.