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 assets, 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 philanthropic planning.

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!