Preserve Your Legacy

Estate Planning | Elder Law | Special Needs Planning

Wealth Preservation

Recent Posts in Wealth Preservation Category

  • CAN A TRUST PROTECT FAMILY WEALTH FROM ESTATE TAXES?

    Estate taxes can significantly erode the wealth that you have accumulated throughout your life. One imposition of the estate tax can play havoc with your financial legacy, but it can actually be levied over multiple generations. The maximum rate of the federal estate tax is 40 percent at the present time. The amount of the credit or exclusion in 2014 is $5.34 million. If your assets exceed this ...
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  • WHAT IS THE ANNUAL GIFT TAX EXCLUSION?

    High net worth families must be aware of the existence of the federal gift tax. Actually, everyone is potentially exposed to the gift tax. The reason why most people don’t pay this tax is because there are exclusions. One of these exclusions is the annual gift tax exclusion. $14,000 Per Person, Per Year Under currently existing laws, you can give as much as $14,000 per year to any number of gift ...
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  • ARE TRUSTS ONLY FOR THE RICH?

    The process of estate planning should involve a significant amount of research. You don’t want to limit yourself and make less than ideal decisions based on a lack of information. There are misconceptions out there, and you can make mistakes if you buy into them. One of them is the notion that trusts are only for the rich. Different Types of Trusts There are certain types of trusts that are used ...
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  • WHAT IS LEGACY WEALTH PLANNING IN NEW YORK?

    New York residents who are in possession of a significant amount of wealth have some great responsibilities, and some great opportunities. Accumulating wealth is challenging, but it can be just as challenging to keep these assets in the family over a number of generations. This is where legacy wealth planning in New York becomes important. What is legacy wealth planning? In a general sense it is ...
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  • WEALTHY FAMILIES CAN BENEFIT FROM GENERATION SKIPPING TRUST

    With a generation-skipping trust you can keep more of your hard-earned resources in the family for a longer period of time. Why would there be any need to utilize an estate planning device like a generation-skipping trust to preserve your wealth? The answer can be broken down to three words: the estate tax. We have a federal estate tax that is imposed on assets that you are transferring that ...
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