ESTATE & GIFT TAX PLANNING

These laws change almost constantly. Since about 2010, the exemption amounts have steadily increased. The underlying law might change, but at the Dilendorf Law Firm, our approach to gift tax matters remains unchanged. We start by offering solid legal advice about not only the state of the law, but also what these laws mean to your family and your legacy. We offer skillful guidance throughout the entire document preparation and execution process.

Tax Avoidance Vehicles

Everyone has a duty to pay taxes legally owed. Everyone also has an opportunity to legally reduce their tax liability. At the Dilendorf Law Firm, we offer a wide variety of solid gift tax avoidance options, such as:

• Limited Liability Corporations: LLCs are not just business organizations. These entities also help families minimize gift tax liability and maximize payments to beneficiaries. As an LLC owner, you may transfer your share to a trust for the benefit of a child or other person. To assist in this rather complex process, we usually partner with an appraiser who accurately values the gifted partnership interest.

• Charitable Gifts: These transfers benefit the organization of your choice. They also reduce the amount of the estate, which in turn reduces the amount of estate taxes. A charitable remainder trust, which leaves the giver in charge of the transferred property for life, is a popular option.

These are just some of the available options. If you are serious about reducing your gift tax liability, nothing substitutes for a personal consultation with an experienced attorney.

Preparing Your Documents

We begin with an in-depth conversation, so we can help you develop a plan of action. Then, our clients handle much of the document production from the comfort of their homes or offices.  When questions arise, and they inevitably do, our professional team is only a click away.

At the end of this process, we do more than review your documents. We arrange for legal execution. So, your wishes are clear, both now and in the future.

Gift tax planning helps ensure that your heirs, as opposed to government bureaucrats, benefit from your estate. For a confidential consultation with an experienced estate planning lawyer in New York, contact Dilendorf Law Firm, PLLC.

Resources:

• Estate and Gift Taxes – IRS
• Estate and Gift Tax FAQ – IRS
• Estate Tax – NYSDTF
• Trusts, Estates, and Gift Planning – Cornell University
• Estate and Gift Taxes; Difference in the Basic Exclusion Amount – Federal Register
• Filing Estate and Gift Tax Returns – IRS
• COVID-19 Relief for Estate and Gift – IRS

Summary

Service Type

Estate & Gift Tax Planning

Provider Name

Dilendorf Law Firm,

60 Broad Street, 24th Floor,New York,New York-10004,
Telephone No.212.457.9797

Area

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

Description

The underlying law might change, but at the Dilendorf Law Firm, our approach to gift tax matters remains unchanged. We start by offering solid legal advice about not only the state of the law, but also what these laws mean to your family and your legacy.