Estate tax planning provides you with the tools you need to manage your tax obligations in relation to your estate and to minimize your heirs’ vulnerability to taxation when they inherit.
Estate taxes involve a wide range of legal intricacies, which makes seeking the professional legal guidance of an experienced Utah estate tax planning attorney the surest path forward.
Failing to actively engage in estate tax planning or failing to maintain your estate tax planning in accordance with evolving laws and financial shifts leaves you vulnerable to considerably more tax exposure than necessary – and could lead to future litigation for your heirs. Taking a proactive stance when it comes to estate taxes is key, and for that, you need the personalized services of a seasoned tax attorney on your side.
Points to keep in mind include all the following:
Working closely with a practiced estate tax attorney comes with many benefits. These include affording you confidence in the smooth transfer of your wealth to your heirs – with as few tax implications as possible.
At Allegis Law, our strategic tax planning services address your unique priorities in each of the following areas:
We shield your financial legacy from excessive estate taxes and explore all available tax credits, exemptions, and deductions, as well as legal tools like revocable trusts, that can help you safeguard your wealth.
Securing your wealth goes beyond reducing your estate tax burden. The matter of transferring complex financial assets, such as family businesses or jointly held properties, is also key, and our savvy estate tax planning attorney is standing by to help.
Few assets complicate estate planning the way business ownership can. We provide carefully crafted business succession strategies that are designed to maintain your legacy for generations to come.
We shield your financial legacy from excessive estate taxes and explore all available tax credits, exemptions, and deductions, as well as legal tools like revocable trusts, that can help you safeguard your wealth.
With a formidable tax planning professional in your corner, you can rest easy in the knowledge that you're in good hands in relation to all your estate tax matters. When you work with the dedicated estate tax attorney at Allegis Law, you can expect all the following advantages:
Estate tax refers to a tax that is levied at the time of death, and it relates to the right to transfer property. While residents of Utah don't pay estate tax, the federal government does levy taxes for estates that exceed the value threshold set by the IRS.
Estate tax law only requires that a federal estate tax return be filed on behalf of your estate if its overall value at the time of your death is worth more than $13,610,000 – as of 2024. To ensure that you fully understand the financial consequences of estate tax laws, however, you should contact a savvy estate planning attorney.
The value of your estate refers to a full accounting of everything you own or have a specific financial interest in at the time of your death, including money, real property, businesses, financial tools like stocks and bonds, and any pending sales or transactions. The value assigned to each asset is its current fair market value rather than what you paid for it or what it was worth when you acquired it.
If you are married, you can gift or leave an unlimited amount of your assets to your spouse with no imposition of either an estate or gift tax. This form of estate plan allows couples to delay any tax issues or consequences until after they've both passed. Consulting with a well-respected estate tax planning attorney early on, however, is the surest means of protecting your estate into the future.
Yes, a resourceful Utah estate tax attorney can help you limit your exposure to estate taxes with the creation of a trust, which is a common means of reducing estate taxes – or avoiding them altogether.
Your estate tax planning attorney will help you implement an ownership structure that minimizes your estate’s tax exposure to preserve your wealth.
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