Estate Planning in Fredericksburg, Virginia - Page 3
Planning for Death Taxes
No matter how overtaxed you think you are during life, Uncle Sam will want to review your estate at death to ensure you don't owe him that one final tax: the federal estate tax. Whether there will be any tax to pay depends on the size of your estate and how your estate plan works. There are many well established strategies that can be implemented to reduce or eliminate death taxes, but you must start planning process early in order to implement many of these plans.
Charitable Bequests and Planned Giving
Do you want to benefit a charitable organization or cause? Your estate plan can provide for such organizations in a variety of ways, either during your lifetime or at your death. Depending on how your planned giving plan is set up, it may also let you receive a stream of income for life, earn higher investment yield, or reduce your capital gains or estate taxes.
A well crafted estate plan should provide for your loved ones in an effective and efficient manner by avoiding guardianship during your lifetime, probate at death, estate taxes and unnecessary delays. You should consult a qualified estate planning attorney to review your family and financial situation, your goals and explain the various options available to you. Once your estate plan is in place, you will have peace of mind knowing that you have provided for yourself and your family in case the worst happens.
Dennis assists clients with Estate Planning, Probate & Estate Administration and Business Law matters primarily in the City of Fredericksburg, Virginia; and the counties of: Stafford, Spotsylvania, King George, Caroline, Westmoreland, Louisa and Orange.