Wellesley Estate and Tax Lawyers
Planning for the Future
It is arguable that there has never been a better time for gifting. There is a $5 million gift tax exemption in place right now. This exclusion will not last forever; it is slated to sunset in 2013. For anyone who has been accumulating wealth for many years, it is important to make sure that wealth gets passed on in the most efficient manner possible, minimizing tax consequences.
Valuable Counsel From Experienced Estate Planning Lawyers
Since 1984, Cushing & Dolan, P.C., has been helping our Wellesley/Weston clients establish well-conceived and effective estate plans. Many of our Wellesley estate and tax attorneys have advanced law degrees in taxation (LL.M.) or are certified public accountants (CPAs). Combining these qualifications with a wealth of estate planning experience, our attorneys provide sophisticated estate planning services, personally tailored to each client’s unique estate planning goals.
Fully Integrated, Comprehensive Estate Planning
With the exception of the simplest of cases, an effective estate plan requires careful planning and integration of many different instruments and considerations of personal goals and tax consequences.
We can help you craft the best strategy for passing on your wealth, considering all of the relevant options and issues, including:
- Revocable trusts (Living Trust)
- Homestead declaration
- 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
- IRA minimum distributions
- Multi-generational IRA planning
- Asset protection
- Durable powers of attorney
- Living will
- Health care proxy
State and federal estate taxation presents one of the most important issues people face during the estate planning process. Without proper planning and integration of the different estate planning instruments, anyone dealing with business succession issues or looking to pass on significant wealth and property will face the potential for high tax consequences. We have skilled and experienced estate planning strategists to help you avoid these costs. We will help you consider the different possible estate planning approaches to pass on your wealth according to your exact wishes with the least amount of tax consequences.