Fairfield County Tax Planning Lawyer
Tax Planning for Established Families in Connecticut
When a person has a
high net worth, he or she is more likely to have higher
estate taxes on top of their extensive income taxes. In situations such as this, having an
attorney present to help provide effective tax planning strategies to protect your
assets is absolutely vital. At
Massih Law, LLC, my legal team works with clients who have high net worth and need assistance
with proven strategies to provide tax shelters for your
estates and income.
At my firm, the legal team understands that you may want to use this money
immediately or pass it on to your children. In any case, which we know
will be different and unique for each situation, my firm will provide
high quality legal representation for your case. By working with a Fairfield
County estate planning lawyer from my office, you will have your rights,
future, taxes and estates represented and protected by our office.
What is a tax shelter?
A tax shelter is essentially a life insurance policy combined into the
irrevocable trust to control the size of your estate. It additionally provides an even larger
benefit to your loved ones, such as your children, or it can replace a
benefit for them while freeing up assets for other purposes, including
Estate taxes play into a tax shelter in the matter that they can be a major
barrier when attempting to transfer your wealth to the next generation.
With the current estate tax rate being 35 cents on the dollar for money
passed down on to the next heir, estate planning techniques can help you
reduce the impact of estate taxes. As of now, the level at which the taxation
begins is for any estate over $5,000,000. However, this may be reduced
to $1,000,000 in 2012, leaving more people at a higher risk to face high
estate tax rates.
To get more information on estate taxes or a tax shelter, call the legal
team at my office today. we can provide you with the detailed information
that you need to successfully manage your taxation matters and plan for
affluence. Call today for a consultation of your case!
Contact an estate planning attorney from my office today!