Advance Estate Planning
Advance Estate Planning is to assist clients avoid estate taxes and shelter assets from the threat of creditor lawsuits. Per the following Estate Tax Chart, Estates larger then the Unified Credit are subject to estate taxes. However there are several Estate Planning techniques available to reduce or eliminate estate taxes. No one technique is 'better' then the other, and which one is the right one depends on each clients unique planning goals and objectives.
YEAR Unified Credit - Per Person Tax on Amounts over Unified Credit
2001 675,000 55%
2002 1,000,000 50%
2003 1,000,000 49%
2004 1,500,000 48%
2005 1,500,000 47%
2006 2,000,000 46%
2007 2,000,000 45%
2008 2,000,000 45%
2009 3,500,000 45%
2010 No Estate Taxes N/A
2011 1,000,000 55%
Advance Planning costs more then basic planning and is more complicated but that's because the goal and objectives are different. Basic planning typically protects and provided for the family during lifetime and after death. The objectives of Advance Planning revolve around Income and Estate taxes issues. Whether it's making assets judgment proof, providing an income stream for the lives of the Trustmakers or planning for future generations.
Through a combination of Financial Planning, Gifting, Life Insurance, Business Entity Planning and Charitable Giving, I create plans to accomplish any planning goals. Which techniques are used depends entirely on what is discovered during the planning process when the clients hopes, fears, goals, values and wishes for themselves and their loved ones are explored in depth and detail.
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