Lexington Estate and Tax Attorneys
Sophisticated Estate Planning Strategies
In the days of the “sweetheart wills” of old, each spouse would give everything to the other through a simple will, with the remainder equally divided among the children. Those days are over. Especially for clients with well-endowed, diversified portfolios, estate planning must be handled with a sophisticated, strategic approach that considers all of the many estate planning instruments available while minimizing state and federal taxation consequences.
Our Lexington estate and tax lawyers have been helping clients create and implement intelligent estate plans for more than 25 years. Clients in the Lexington/Winchester area trust the lawyers of Cushing & Dolan, P.C., to listen to their estate planning goals and help find solutions that are perfectly tailored to their needs.
The will is the central testamentary document and the centerpiece of a well-integrated estate plan.
With many different varieties and purposes, the trust is an essential tool for creatively passing on wealth while retaining some control over how the assets are distributed, minimizing tax consequences and protecting your assets. We have experience handling all manner of trust issues, including:
- Revocable trusts (living trust)
- Irrevocable trusts
- Irrevocable life insurance trusts
- Domestic asset protection trusts
- Intentionally defective grantor trust
- Realty trusts (nominee trust)
- Grantor retained annuity trust vs. sale to intentionally defective grantor trust
- Qualified personal residence trust vs. home security trust
- Special needs trusts
- Charitable trusts
Business Interests and Retirement Accounts
We help business owners and those with retirement accounts handle:
$5 Million Life Time Gift Tax Exemption Bonanza
This is one of the best times in our history to pass on wealth. Until 2013, there is a $5 million exemption for lifetime gifts and for generational-skipping gifts. Work with one of our experienced attorneys to learn how to maximize this unique opportunity to avoid the heavy taxes on gifts that can plague an otherwise efficient estate plan.