Gift and Estate Taxation
Gifting to reduce estate taxes is integral to
estate planning, and an important tool in optimizing the transfer of wealth to younger generations and charitable foundations. At The Drew Law Firm our
attorneys assist clients with estate tax planning. Based on the attorneys' analysis of our client's resources and goals a program of annual gifts may be built in the clients' comprehensive
estate plan.
"I enjoy working with people to solve their problems. As an estate planning attorney I am able to work directly with individuals to assist them in meeting their needs and goals — that is why I pursued this field of law."
Attorney Mark W. Jordan
Under current Internal Revenue guidelines each person can gift up to $13,000 to each recipient without incurring any gift tax. Over the course of ten years, a couple can thus transfer $260,000 to each heir without any gift tax and without probate.
All estate planning at our Cincinnati firm is done with an eye for making complex strategies for asset preservation seem simple. Our attorneys explain to our clients that gifts can be transferred to 529 college funds for another individual or to charitable foundations. As long as the funds are used for education no income tax is paid on the appreciation. In that way our lawyers enable our clients to share the blessings they have built up with younger generations, enhancing their inheritances. A careful program of gifts, particularly one that includes giving to charity, may save millions of dollars in estate taxes.
Current Topics:
March 9, 2010 - Estate Planning Article Series - Irrevocable Life Insurance Trust
May 7, 2009 - Estate Planning Article Series - Gifts
The early stages of estate planning are critical. If you would like to arrange an initial consultation, please contact our Cincinnati office. Our lawyers will work with you to define your goals, identify significant aspects of your unique situation, and explain whether gift tax planning is an appropriate strategy for you to pursue.
Our estate planning attorneys: Mark W. Jordan, Robert M. Smyth, George J. Zamary, James H. Coogan, Frederic L. Goeddel, Anthony G. Covatta, Michael D. McNeil, Nancy J. Frazier and Sybil B. Mullin.
Related practice areas: estate planning, probate and estate administration, probate litigation, charitable trusts and foundations, business succession planning, wills and trusts, prenuptial agreements, division of marital assets, family law, real estate, employment law, mergers and acquisitions, and medical group representation
