Estate Planning
Estate planning encompasses tax law applied to will and trust preparation
The Process:
- List your assets
- Explain the disposition of property to your attorney
- Review the draft of the will
- Review life insurance and qualified plan beneficiary forms
- Consider buy/sell agreements if you have a small business
- Retitling of assets to minimize joint tenancies
- Sign will observing formal requisites
Review your will
- After tax reform
- After death of spouse or child
- After attaining age 70
Probate
Probate is a process of ascertaining the authenticity of your last will and settling your estate.
After the death of a loved one, these items should be brought to the Fiduciary Supervisor’s office:
- The original will
- Death certificate
- Decedent’s social security number
- Your identification
- Filing fees
- Name of surety on your bond
- List of heirs, including addresses
- List of will beneficiaries, including addresses
Tax Law
Tax Law involves the interpretation of Internal Revenue Code provisions.
Tax Law encompasses:
- Income taxes
- Estate taxes
- Gift taxes
- Generation-skipping taxes
Services we provide
- Opinions on tax issues and estate administration.
- Preparation of federal estate and trust income tax returns.
- Advice on year-end gift giving techniques.
- Formation of family limited partnerships.
- Hearings and appeals of tax controversies.
- Advice on tax consequences of business mergers and buyouts.