Federal And State Tax Planning
Planning For The Best Ways To Leave Your Wealth To Your Family
Federal tax laws seem to significantly change every few years, for good or bad, and depending on the wishes of Congress and budget concerns, what you can leave to your children and grandchildren can and does change dramatically. For example, the new estate tax provisions of 2017 are scheduled to automatically expire after 2025 so it is entirely possible that the exemption amounts will plummet to their old levels at that time. To be able to preserve your hard-earned wealth for your family or beneficiaries, you need the help of a Seguin wealth preservation lawyer.
At Kolb & Murray, P.C., Kevin Kolb uses his more than 25 years of experience as a practicing attorney and certified public accountant (CPA), and his advanced law degree in taxation (LL.M.) to help you maximize the benefit to your family and minimize what creditors and the state and federal government take from your estate.
Kevin sits down with you to discuss necessary planning for the right types of trusts and wills to ensure that your wishes are fulfilled regarding your estate. He looks at ways to anticipate changes in family needs, create a creditor protection plan, and to lower taxes, thereby giving your beneficiaries tools to prevent the unnecessary and forced sale of estate property, property you hope to give them, in order to pay creditors or taxes. He explains all your options so that you can make informed decisions.
State Liability And Wealth Preservation Planning Attorneys Serving Clients In Schertz, Seguin And Guadalupe County
Most people use “mom and pop” wills that leave everything to the surviving spouse. There are advantages and disadvantages to this method. Kevin can help you sort out what will be best for you, your spouse, your family and other important folks in your life. It is important to note that your will should be drafted to accommodate all possibilities because adding language or trusts to your will either cannot be accomplished after you become incapacitated or die or may require a costly court order to modify certain terms and provisions of the will.
Planning for Texas Medicaid estate recovery seem to be a more common problem than federal tax planning. Kevin’s ability to look at your financial circumstances from many different angles and wearing different hats gives him the ability to craft an estate plan unique to your family situation that allows your beneficiaries to receive maximum benefit from the property and assets you leave to them.
Dealing with the future can be a frightening experience, especially when it involves planning for your own mortality. You owe it to yourself and to your family to prepare an estate plan so you get to decide what your beneficiaries receive, and that your family knows your wishes.