Estate Tax Planning / Probate Tax Reduction
If you have not yet created an effective estate plan, the United States Government has a plan for you…I can assure you that neither you nor your heirs like their plan. Tax and spend politicians have completely run amok. As American becomes more and more socialized those with wealth become the targets of increased taxation. Since the poor and middle classes have little wealth to re-distribute those with estates become the payees of big government programs.
Unless you take some positive action, Probate Tax can take 45% to 55% of your estate.
You worked your whole life, saved and paid taxes on your money once, but Congress and the President think 45% to 55% should go to them for re-distribution. Of course, the probate system will want a piece of the action as well.
The government, probate judges the IRS and yes even your lawyer all have a vested financial interest in your estate. Under current law the system could end up with the biggest single slice of your estate, leaving your spouse, children and other heirs with scraps from the table.
Estate Planning is like a number of other critical items on your "to do" list; you know you should do it but you just keep putting it off.
Most likely, you are confused by the seemingly endless number of articles on living trusts, the nightmares of probate and exactly how much of your estate will be subject to the Federal Estate Tax. Let Genius Capital show you a few simple totally legal ways to keep the judges, lawyers and bureaucrats out of as big a portion of your estate as you feel comfortable with.
The best way to get through probate is to not go at all.
Let the professionals at Opus Tax show you some alternatives not offered by most attorneys. Remember no probate equals no probate attorney or trustee fees. Opus Tax will show you some very creative ways to keep under the exemption amount. How does a worst-case scenario with your heirs paying capital gains taxes at less than half of probate tax sound? Forget about the maze of estate planning techniques and complicated schemes to create an estate plan. Often those schemes need re-working every time someone in Congress sneezes.